Trexquant Investment LP increased its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 2,361.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,488 shares of the scientific and technical instruments company’s stock after purchasing an additional 66,665 shares during the quarter. Cognex makes up 0.5% of Trexquant Investment LP’s portfolio, making the stock its 14th biggest holding. Trexquant Investment LP’s holdings in Cognex were worth $4,250,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Harding Loevner LP grew its position in shares of Cognex by 50.1% during the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after purchasing an additional 947,119 shares in the last quarter. State Street Corp grew its position in shares of Cognex by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after purchasing an additional 45,840 shares in the last quarter. Congress Asset Management Co. MA grew its position in shares of Cognex by 87.7% during the fourth quarter. Congress Asset Management Co. MA now owns 1,665,724 shares of the scientific and technical instruments company’s stock worth $101,876,000 after purchasing an additional 778,204 shares in the last quarter. American Capital Management Inc. grew its position in shares of Cognex by 69.2% during the fourth quarter. American Capital Management Inc. now owns 1,606,199 shares of the scientific and technical instruments company’s stock worth $98,235,000 after purchasing an additional 657,107 shares in the last quarter. Finally, Hermes Investment Management Ltd. grew its position in shares of Cognex by 64.0% during the fourth quarter. Hermes Investment Management Ltd. now owns 1,354,547 shares of the scientific and technical instruments company’s stock worth $82,844,000 after purchasing an additional 528,786 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.
Several analysts recently issued reports on CGNX shares. Zacks Investment Research cut Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub cut Cognex from a “buy” rating to a “hold” rating in a report on Friday, January 26th. JPMorgan Chase & Co. cut Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target for the company. in a report on Wednesday, November 8th. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Robert W. Baird raised their price target on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.00.
Cognex Co. (CGNX) traded up $2.88 during midday trading on Thursday, reaching $58.05. The company’s stock had a trading volume of 2,709,700 shares, compared to its average volume of 1,672,743. The stock has a market cap of $9,553.96, a PE ratio of 42.77 and a beta of 1.44. Cognex Co. has a fifty-two week low of $34.59 and a fifty-two week high of $72.99.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 0.31%. Cognex’s dividend payout ratio is presently 13.28%.
In other Cognex news, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.
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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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