Cognex Co. (CGNX) Stake Increased by Navellier & Associates Inc

Navellier & Associates Inc grew its stake in shares of Cognex Co. (NASDAQ:CGNX) by 47.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 164,103 shares of the scientific and technical instruments company’s stock after acquiring an additional 52,671 shares during the quarter. Cognex comprises about 1.9% of Navellier & Associates Inc’s portfolio, making the stock its 5th biggest holding. Navellier & Associates Inc owned approximately 0.09% of Cognex worth $10,037,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CGNX. BlackRock Inc. lifted its position in shares of Cognex by 128.0% during the 4th quarter. BlackRock Inc. now owns 15,768,475 shares of the scientific and technical instruments company’s stock valued at $964,400,000 after acquiring an additional 8,852,130 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Cognex by 87.3% during the 4th quarter. Eagle Asset Management Inc. now owns 2,830,892 shares of the scientific and technical instruments company’s stock valued at $172,502,000 after acquiring an additional 1,319,135 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Cognex by 63.2% during the 4th quarter. OppenheimerFunds Inc. now owns 2,914,913 shares of the scientific and technical instruments company’s stock valued at $178,276,000 after acquiring an additional 1,128,402 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Cognex by 75.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,245,562 shares of the scientific and technical instruments company’s stock valued at $137,340,000 after acquiring an additional 968,709 shares during the period. Finally, Harding Loevner LP lifted its position in shares of Cognex by 50.1% during the 3rd quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock valued at $135,890,000 after acquiring an additional 947,119 shares during the period. Hedge funds and other institutional investors own 64.08% of the company’s stock.

In related news, Director Patrick Alias sold 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Shares of Cognex Co. (NASDAQ:CGNX) opened at $56.97 on Thursday. Cognex Co. has a 1 year low of $37.78 and a 1 year high of $72.99. The firm has a market capitalization of $9,795.22, a price-to-earnings ratio of 58.13 and a beta of 1.44.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business had revenue of $180.37 million during the quarter, compared to the consensus estimate of $178.75 million. During the same period in the prior year, the company earned $0.20 EPS. Cognex’s revenue for the quarter was up 39.5% on a year-over-year basis. equities analysts forecast that Cognex Co. will post 1.44 EPS for the current year.

Cognex declared that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.32%. Cognex’s dividend payout ratio is currently 18.37%.

A number of analysts have recently weighed in on CGNX shares. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Canaccord Genuity upped their target price on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Wednesday, November 1st. Finally, Robert W. Baird upped their target price on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.83.

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Cognex 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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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