Ieq Capital LLC bought a new position in shares of Cognex Corporation (NASDAQ:CGNX – Free Report) during the second quarter, Holdings Channel.com reports. The firm bought 99,395 shares of the scientific and technical instruments company’s stock, valued at approximately $7,198,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cognex during the 2nd quarter worth $26,000. Geneos Wealth Management Inc. raised its position in shares of Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 736 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Cognex by 635.4% during the second quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 413 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Cognex by 74.8% in the third quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 327 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Cognex in the first quarter worth about $36,000. Institutional investors and hedge funds own 88.12% of the company’s stock.
Cognex Stock Performance
Cognex stock opened at $60.54 on Monday. Cognex Corporation has a 1-year low of $34.60 and a 1-year high of $72.88. The company has a fifty day simple moving average of $64.92 and a 200 day simple moving average of $58.89. The company has a market cap of $10.18 billion, a P/E ratio of 58.78 and a beta of 1.49.
Cognex Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a dividend of $0.085 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.34 dividend on an annualized basis and a yield of 0.6%. Cognex’s dividend payout ratio (DPR) is presently 33.01%.
Insiders Place Their Bets
In other Cognex news, VP Darren Marc Long sold 20,252 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the transaction, the vice president owned 3,990 shares of the company’s stock, valued at $264,696.60. The trade was a 83.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CGNX. Weiss Ratings upgraded shares of Cognex from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Truist Financial boosted their price target on shares of Cognex from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. HSBC cut shares of Cognex from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Monday, August 10th. JPMorgan Chase & Co. upgraded shares of Cognex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $65.00 to $75.00 in a research report on Tuesday, May 26th. Finally, DA Davidson set a $65.00 price target on Cognex and gave the stock a “neutral” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.64.
Get Our Latest Stock Analysis on Cognex
About Cognex
Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.
The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.
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