DNB Asset Management AS lifted its stake in Cognex Co. (NASDAQ:CGNX) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,663 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,963 shares during the quarter. DNB Asset Management AS’s holdings in Cognex were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of CGNX. Liberty Wealth Management LLC acquired a new stake in shares of Cognex in the fourth quarter valued at approximately $25,000. Geode Capital Management LLC boosted its position in shares of Cognex by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,982,117 shares of the scientific and technical instruments company’s stock worth $76,607,000 after purchasing an additional 102,876 shares in the last quarter. Norges Bank bought a new position in shares of Cognex during the fourth quarter worth $68,154,000. O Brien Greene & Co. Inc bought a new position in shares of Cognex during the fourth quarter worth $348,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cognex by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 864,848 shares of the scientific and technical instruments company’s stock worth $33,441,000 after purchasing an additional 97,348 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.
In other Cognex news, insider John J. Curran sold 50,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.01, for a total value of $2,450,500.00. Following the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at $612,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodor Krantz sold 30,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the completion of the transaction, the director now directly owns 52,500 shares in the company, valued at $2,791,950. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, April 29th. The scientific and technical instruments company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. Cognex had a net margin of 26.55% and a return on equity of 18.90%. The company had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.16 million. During the same period in the prior year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Cognex Co. will post 1.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 16th. Cognex’s dividend payout ratio is presently 16.13%.
A number of brokerages recently commented on CGNX. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “sell” rating in a report on Tuesday, April 23rd. Gordon Haskett assumed coverage on shares of Cognex in a research note on Wednesday, April 17th. They issued a “hold” rating and a $54.00 price target on the stock. BidaskClub lowered shares of Cognex from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Needham & Company LLC downgraded shares of Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Sanford C. Bernstein downgraded shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective for the company. in a report on Tuesday, April 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Cognex presently has a consensus rating of “Hold” and a consensus price target of $52.20.
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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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