Private Advisors LLC reduced its stake in shares of Cognex Co. (NASDAQ:CGNX) by 33.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,937 shares of the scientific and technical instruments company’s stock after selling 3,936 shares during the period. Private Advisors LLC’s holdings in Cognex were worth $404,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CGNX. TIAA CREF Investment Management LLC increased its stake in Cognex by 12.3% in the third quarter. TIAA CREF Investment Management LLC now owns 635,449 shares of the scientific and technical instruments company’s stock valued at $35,471,000 after acquiring an additional 69,485 shares during the last quarter. Vanguard Group Inc increased its stake in Cognex by 0.7% in the third quarter. Vanguard Group Inc now owns 14,774,139 shares of the scientific and technical instruments company’s stock valued at $824,693,000 after acquiring an additional 101,127 shares during the last quarter. Bank of Montreal Can increased its stake in Cognex by 15.0% in the fourth quarter. Bank of Montreal Can now owns 29,689 shares of the scientific and technical instruments company’s stock valued at $1,149,000 after acquiring an additional 3,875 shares during the last quarter. TD Asset Management Inc. increased its stake in Cognex by 15.0% in the fourth quarter. TD Asset Management Inc. now owns 18,479 shares of the scientific and technical instruments company’s stock valued at $715,000 after acquiring an additional 2,410 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Cognex by 20.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,612 shares of the scientific and technical instruments company’s stock valued at $333,000 after acquiring an additional 1,491 shares during the last quarter. Institutional investors and hedge funds own 94.53% of the company’s stock.
Shares of NASDAQ:CGNX traded down $1.28 on Friday, reaching $43.69. 883,133 shares of the company traded hands, compared to its average volume of 990,948. Cognex Co. has a 52 week low of $34.88 and a 52 week high of $59.18. The stock has a market capitalization of $7.49 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.87 and a beta of 2.03. The company has a current ratio of 8.31, a quick ratio of 7.46 and a debt-to-equity ratio of 0.01.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.16 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Cognex Co. will post 1.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. Cognex’s dividend payout ratio is currently 16.13%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Cognex from a “buy” rating to a “sell” rating in a research note on Tuesday, April 23rd. Gordon Haskett assumed coverage on Cognex in a research note on Wednesday, April 17th. They set a “hold” rating and a $54.00 price objective on the stock. BidaskClub cut Cognex from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein cut Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.20.
In other news, insider John J. Curran sold 50,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the completion of the sale, the insider now directly owns 12,500 shares in the company, valued at $612,625. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.
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Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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