Ownership Capital B.V. increased its stake in shares of Cognex Co. (NASDAQ:CGNX) by 2.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 882,901 shares of the scientific and technical instruments company’s stock after acquiring an additional 20,521 shares during the period. Cognex makes up approximately 1.9% of Ownership Capital B.V.’s holdings, making the stock its 22nd largest holding. Ownership Capital B.V.’s holdings in Cognex were worth $42,362,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its position in shares of Cognex by 1,081.8% in the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 476 shares in the last quarter. Bremer Bank National Association acquired a new position in shares of Cognex in the 1st quarter valued at approximately $27,000. Huntington National Bank raised its position in shares of Cognex by 173.6% in the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of Cognex in the 1st quarter valued at approximately $33,000. Finally, Coastal Capital Group Inc. acquired a new position in shares of Cognex in the 2nd quarter valued at approximately $38,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on CGNX shares. ValuEngine lowered Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Needham & Company LLC lowered Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Morgan Stanley cut their target price on Cognex from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Gordon Haskett started coverage on Cognex in a research report on Wednesday, April 17th. They issued a “hold” rating and a $54.00 target price on the stock. Finally, Sanford C. Bernstein lowered Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Cognex presently has a consensus rating of “Hold” and an average price target of $50.60.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.65 million. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. On average, analysts predict that Cognex Co. will post 0.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, August 15th. Cognex’s dividend payout ratio is currently 16.13%.
In related news, Director Dianne M. Parrotte sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the sale, the director now directly owns 19,700 shares of the company’s stock, valued at approximately $886,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
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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