Nan Shan Life Insurance Co. Ltd. lessened its position in Cognex Co. (NASDAQ:CGNX) by 33.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,195 shares of the scientific and technical instruments company’s stock after selling 56,000 shares during the quarter. Nan Shan Life Insurance Co. Ltd. owned approximately 0.06% of Cognex worth $8,847,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CGNX. CI Investments Inc. bought a new position in Cognex in the third quarter worth $29,000. Harvest Fund Management Co. Ltd purchased a new position in Cognex during the 3rd quarter valued at about $44,000. NEXT Financial Group Inc purchased a new position in Cognex during the 3rd quarter valued at about $66,000. HHM Wealth Advisors LLC bought a new stake in Cognex during the fourth quarter worth about $122,000. Finally, Smithfield Trust Co. grew its holdings in Cognex by 18.6% in the third quarter. Smithfield Trust Co. now owns 1,595 shares of the scientific and technical instruments company’s stock worth $104,000 after purchasing an additional 250 shares during the period. Institutional investors own 91.47% of the company’s stock.
In other news, Director Eugene G. Banucci sold 10,400 shares of the business’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $75.48, for a total value of $784,992.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,132,200. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sheila Marie Dipalma sold 52,000 shares of the stock in a transaction that occurred on Wednesday, December 9th. The shares were sold at an average price of $77.39, for a total transaction of $4,024,280.00. Following the sale, the executive vice president now directly owns 16,000 shares of the company’s stock, valued at approximately $1,238,240. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.
Shares of CGNX traded down $2.38 during mid-day trading on Tuesday, hitting $81.90. 13,184 shares of the company traded hands, compared to its average volume of 801,756. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 79.51 and a beta of 1.64. The stock has a 50-day moving average price of $85.90 and a two-hundred day moving average price of $73.99. Cognex Co. has a 1 year low of $35.20 and a 1 year high of $101.82.
Cognex (NASDAQ:CGNX) last posted its earnings results on Wednesday, February 10th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cognex had a return on equity of 13.45% and a net margin of 24.72%. Equities analysts expect that Cognex Co. will post 0.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 12th. Investors of record on Friday, February 26th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Thursday, February 25th. Cognex’s dividend payout ratio (DPR) is presently 20.69%.
Several research firms have recently issued reports on CGNX. Morgan Stanley lifted their target price on shares of Cognex from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, February 12th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a research note on Thursday, February 18th. Raymond James increased their target price on Cognex from $75.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. HSBC upgraded Cognex from a “hold” rating to a “buy” rating in a report on Thursday, January 14th. Finally, Robert W. Baird upgraded shares of Cognex from an “underperform” rating to a “neutral” rating and set a $63.00 price target on the stock in a research note on Thursday, October 29th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Cognex presently has an average rating of “Hold” and an average target price of $71.90.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products 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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