Cookson Peirce & Co. Inc. bought a new stake in Cognex Corporation (NASDAQ:CGNX – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 462,885 shares of the scientific and technical instruments company’s stock, valued at approximately $33,522,000. Cognex makes up 1.1% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 24th biggest position.
A number of other institutional investors have also added to or reduced their stakes in CGNX. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cognex during the second quarter worth $26,000. Rakuten Securities Inc. bought a new position in shares of Cognex in the 2nd quarter valued at about $32,000. Transamerica Financial Advisors LLC acquired a new position in shares of Cognex during the 2nd quarter worth about $32,000. Elevation Wealth Partners LLC raised its holdings in shares of Cognex by 635.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 413 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Cognex in the 2nd quarter valued at about $45,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.
Cognex Stock Down 4.0%
Shares of NASDAQ:CGNX opened at $60.46 on Friday. Cognex Corporation has a 12-month low of $34.60 and a 12-month high of $72.88. The business has a 50 day moving average of $64.43 and a 200-day moving average of $59.46. The stock has a market cap of $10.17 billion, a PE ratio of 58.70 and a beta of 1.49.
Cognex Announces Dividend
The company 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 dividend of $0.085 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. Cognex’s dividend payout ratio (DPR) is currently 33.01%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on CGNX shares. UBS Group set a $75.00 target price on shares of Cognex in a research note on Tuesday, May 26th. Cantor Fitzgerald boosted their price target on Cognex from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen lowered Cognex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised Cognex from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird set a $72.00 target price on Cognex in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.64.
View Our Latest Stock Report on CGNX
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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