Pinnacle Associates Ltd. decreased its stake in shares of Cognex Corporation (NASDAQ:CGNX – Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 486,046 shares of the scientific and technical instruments company’s stock after selling 20,850 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cognex were worth $17,488,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in shares of Cognex by 13.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 318,984 shares of the scientific and technical instruments company’s stock worth $14,450,000 after purchasing an additional 37,405 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cognex by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 8,101,583 shares of the scientific and technical instruments company’s stock worth $292,224,000 after purchasing an additional 76,212 shares during the last quarter. IMC Chicago LLC acquired a new position in shares of Cognex during the 3rd quarter worth approximately $5,761,000. Bank of New York Mellon Corp increased its position in shares of Cognex by 43.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,024,355 shares of the scientific and technical instruments company’s stock worth $137,003,000 after purchasing an additional 922,149 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Cognex by 19.1% during the 4th quarter. DAVENPORT & Co LLC now owns 477,658 shares of the scientific and technical instruments company’s stock worth $17,186,000 after purchasing an additional 76,540 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on CGNX shares. Stephens boosted their price target on Cognex from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen raised Cognex from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup reissued a “neutral” rating and set a $68.00 target price (up from $60.00) on shares of Cognex in a report on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Cognex in a report on Tuesday, February 17th. Finally, Zacks Research lowered Cognex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.86.
Insider Activity at Cognex
In related news, Director Angelos Papadimitriou sold 4,150 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $55.58, for a total value of $230,657.00. Following the completion of the sale, the director directly owned 16,222 shares in the company, valued at $901,618.76. The trade was a 20.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Laura Ann Macdonald sold 41,600 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $65.56, for a total value of $2,727,296.00. Following the completion of the sale, the vice president owned 5,258 shares of the company’s stock, valued at $344,714.48. This trade represents a 88.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 208,745 shares of company stock worth $13,862,237 in the last ninety days. 1.70% of the stock is owned by company insiders.
Cognex Trading Down 3.1%
CGNX stock opened at $63.65 on Thursday. The firm has a market capitalization of $10.59 billion, a PE ratio of 75.77 and a beta of 1.48. Cognex Corporation has a 1-year low of $29.00 and a 1-year high of $71.90. The business’s 50 day simple moving average is $53.50 and its 200 day simple moving average is $45.71.
Cognex (NASDAQ:CGNX – Get Free Report) last posted its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $268.44 million for the quarter, compared to analyst estimates of $245.98 million. Cognex had a return on equity of 10.89% and a net margin of 13.62%.The firm’s revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. As a group, sell-side analysts predict that Cognex Corporation will post 1.05 EPS for the current fiscal year.
Cognex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be paid a $0.085 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.34 annualized dividend and a yield of 0.5%. Cognex’s payout ratio is 40.48%.
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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