Goldman Sachs Group Inc. increased its holdings in Cognex Co. (NASDAQ:CGNX) by 96.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,467,918 shares of the scientific and technical instruments company’s stock after acquiring an additional 720,589 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.85% of Cognex worth $89,778,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 942 shares in the last quarter. YorkBridge Wealth Partners LLC raised its holdings in Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock worth $125,000 after purchasing an additional 963 shares in the last quarter. Cerebellum GP LLC bought a new position in Cognex in the fourth quarter worth about $126,000. Strs Ohio bought a new position in Cognex in the fourth quarter worth about $133,000. Finally, Clear Perspective Advisors LLC increased its holdings in shares of Cognex by 100.0% during the fourth quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $135,000 after acquiring an additional 1,100 shares in the last quarter. 82.30% of the stock is owned by institutional investors.
Cognex stock opened at $49.29 on Friday. Cognex Co. has a 12 month low of $39.74 and a 12 month high of $72.99. The company has a market capitalization of $8,674.02, a price-to-earnings ratio of 33.99 and a beta of 1.58.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $178.75 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. sell-side analysts forecast that Cognex Co. will post 1.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.37%. Cognex’s dividend payout ratio (DPR) is 12.41%.
Cognex declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
CGNX has been the topic of several recent analyst reports. Northcoast Research upgraded shares of Cognex from a “neutral” rating to a “buy” rating in a report on Wednesday. Deutsche Bank set a $80.00 price objective on shares of Cognex and gave the company a “buy” rating in a report on Friday, January 19th. BidaskClub upgraded shares of Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase upgraded shares of Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $66.92.
In other news, Director Anthony Sun sold 10,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the transaction, the director now owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.40% 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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