First Citizens Bank & Trust Co. Has $412,000 Stake in Cognex Co. (CGNX)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 48.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,729 shares of the scientific and technical instruments company’s stock after selling 6,390 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Cognex were worth $412,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Cognex by 3.5% during the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after acquiring an additional 231,014 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cognex by 2.4% during the second quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock worth $571,735,000 after acquiring an additional 159,355 shares during the last quarter. Harding Loevner LP increased its position in shares of Cognex by 50.1% during the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after acquiring an additional 947,119 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Cognex by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after acquiring an additional 1,309,047 shares during the last quarter. Finally, State Street Corp increased its position in shares of Cognex by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after acquiring an additional 45,840 shares during the last quarter. 42.10% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on CGNX shares. JPMorgan Chase & Co. lowered Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price on the stock. in a research report on Wednesday, November 8th. Canaccord Genuity lifted their target price on Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Zacks Investment Research lowered Cognex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine lowered Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, BidaskClub lowered Cognex from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.17.

In related news, Director Jeffrey Benjamin Miller sold 3,750 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $134.48, for a total value of $504,300.00. Following the completion of the sale, the director now directly owns 3,750 shares of the company’s stock, valued at $504,300. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Willett sold 100,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total value of $12,719,000.00. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $12,719,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,750 shares of company stock valued at $18,540,975. 5.60% of the stock is owned by corporate insiders.

Shares of Cognex Co. (CGNX) opened at $67.91 on Friday. The firm has a market capitalization of $11,609.53, a PE ratio of 50.12 and a beta of 1.51. Cognex Co. has a fifty-two week low of $31.91 and a fifty-two week high of $72.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The firm had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. Cognex’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. sell-side analysts anticipate that Cognex Co. will post 1.39 EPS for the current fiscal year.

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Cognex Company Profile

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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