American International Group Inc. cut its stake in shares of Cognex Co. (NASDAQ:CGNX) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 341,607 shares of the scientific and technical instruments company’s stock after selling 10,245 shares during the period. American International Group Inc.’s holdings in Cognex were worth $17,374,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in CGNX. Iberiabank Corp raised its position in shares of Cognex by 3.8% in the 1st quarter. Iberiabank Corp now owns 6,224 shares of the scientific and technical instruments company’s stock valued at $317,000 after purchasing an additional 229 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Cognex by 2.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 8,859 shares of the scientific and technical instruments company’s stock valued at $451,000 after purchasing an additional 248 shares in the last quarter. Private Capital Group LLC raised its position in shares of Cognex by 50.7% in the 1st quarter. Private Capital Group LLC now owns 847 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 285 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Cognex by 9.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,822 shares of the scientific and technical instruments company’s stock valued at $148,000 after purchasing an additional 335 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in shares of Cognex by 2.0% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 18,569 shares of the scientific and technical instruments company’s stock valued at $944,000 after purchasing an additional 366 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.
CGNX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Cognex from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. BidaskClub lowered Cognex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target (up from $47.00) on shares of Cognex in a research report on Tuesday, February 12th. Two investment 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 currently has an average rating of “Hold” and a consensus target price of $52.20.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. Research analysts predict that Cognex Co. will post 1.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 16th. Cognex’s dividend payout ratio is currently 16.13%.
In related news, Director Theodor Krantz sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was 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 approximately $2,791,950. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at $612,625. The disclosure for this sale can be found here. 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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