Bank of New York Mellon Corp increased its holdings in shares of Cognex Corporation (NASDAQ:CGNX) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,276,853 shares of the scientific and technical instruments company’s stock after buying an additional 15,541 shares during the period. Bank of New York Mellon Corp owned 1.47% of Cognex Corporation worth $140,810,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CGNX. Ameriprise Financial Inc. grew its holdings in Cognex Corporation 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 valued at $198,864,000 after purchasing an additional 1,309,047 shares during the period. Coatue Management LLC acquired a new stake in Cognex Corporation during the second quarter worth about $87,064,000. American Century Companies Inc. acquired a new stake in shares of Cognex Corporation in the 2nd quarter valued at approximately $31,281,000. BlackRock Inc. boosted its stake in shares of Cognex Corporation by 3.5% in the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock valued at $584,711,000 after purchasing an additional 231,014 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in Cognex Corporation in the 2nd quarter valued at approximately $17,063,000. 85.83% of the stock is owned by institutional investors and hedge funds.
Cognex Corporation (CGNX) opened at $144.86 on Wednesday. Cognex Corporation has a 12 month low of $57.42 and a 12 month high of $145.00. The company has a market capitalization of $12,288.37, a PE ratio of 52.37 and a beta of 1.48.
Cognex Corporation’s stock is scheduled to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly issued shares will be payable to shareholders after the closing bell on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The business’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. equities analysts predict that Cognex Corporation will post 2.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.25%. The ex-dividend date is Thursday, November 16th. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio (DPR) is 13.28%.
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Several analysts have recently commented on the stock. Cowen and Company raised their price objective on shares of Cognex Corporation from $100.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Wolfe Research raised shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Canaccord Genuity lifted their price target on shares of Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. Robert W. Baird lifted their price objective on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $106.88.
In related news, CEO Robert Willett sold 8,241 shares of Cognex Corporation stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $103.09, for a total transaction of $849,564.69. Following the sale, the chief executive officer now owns 8,241 shares of the company’s stock, valued at approximately $849,564.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Robinson J sold 7,000 shares of Cognex Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the sale, the director now directly owns 5,625 shares in the company, valued at approximately $599,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 158,991 shares of company stock worth $19,974,890 in the last three months. 5.60% of the stock is owned by corporate insiders.
Cognex Corporation 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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