Northwestern Mutual Wealth Management Co. acquired a new position in Cognex Corporation (NASDAQ:CGNX – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 39,491 shares of the scientific and technical instruments company’s stock, valued at approximately $2,860,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Intech Investment Management LLC boosted its stake in shares of Cognex by 124.5% during the 4th quarter. Intech Investment Management LLC now owns 98,451 shares of the scientific and technical instruments company’s stock worth $3,542,000 after acquiring an additional 54,600 shares during the last quarter. One Capital Management LLC purchased a new stake in shares of Cognex in the 4th quarter worth $1,945,000. Handelsbanken Fonder AB raised its holdings in Cognex by 76.3% in the 4th quarter. Handelsbanken Fonder AB now owns 758,831 shares of the scientific and technical instruments company’s stock worth $27,303,000 after purchasing an additional 328,427 shares during the period. Legal & General Group Plc raised its holdings in Cognex by 11.1% in the 4th quarter. Legal & General Group Plc now owns 1,152,053 shares of the scientific and technical instruments company’s stock worth $41,451,000 after purchasing an additional 114,652 shares during the period. Finally, M&T Bank Corp lifted its position in Cognex by 58.0% during the fourth quarter. M&T Bank Corp now owns 80,511 shares of the scientific and technical instruments company’s stock valued at $2,897,000 after purchasing an additional 29,546 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.
Insider Activity
In other news, VP Darren Marc Long sold 20,252 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the sale, the vice president directly owned 3,990 shares in the company, valued at approximately $264,696.60. This represents a 83.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Cognex Price Performance
Cognex (NASDAQ:CGNX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $291.26 million during the quarter, compared to analyst estimates of $292.10 million. Cognex had a net margin of 16.05% and a return on equity of 13.50%. Cognex’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. On average, sell-side analysts expect that Cognex Corporation will post 1.68 earnings per share for the current year.
Cognex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.085 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. Cognex’s payout ratio is 33.01%.
Analysts Set New Price Targets
CGNX has been the subject of a number of analyst reports. Barclays restated an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Cognex in a research report on Monday, August 10th. UBS Group set a $75.00 target price on shares of Cognex in a report on Tuesday, May 26th. Stephens lifted their price target on shares of Cognex from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Seaport Research Partners set a $75.00 price objective on shares of Cognex in a research note on Tuesday, May 26th. Finally, Cantor Fitzgerald raised their price objective on shares of Cognex from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.64.
Read Our Latest Stock Analysis on CGNX
Cognex Company Profile
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.
Read More
- Five stocks we like better than Cognex
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX – Free Report).
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.
