Shell Asset Management Co. Purchases 3,021 Shares of Cognex Co. (NASDAQ:CGNX)

Shell Asset Management Co. lifted its position in shares of Cognex Co. (NASDAQ:CGNX) by 47.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,396 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,021 shares during the period. Shell Asset Management Co.’s holdings in Cognex were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Cognex by 94.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 286 shares during the period. Altfest L J & Co. Inc. increased its stake in Cognex by 4.8% during the 1st quarter. Altfest L J & Co. Inc. now owns 6,279 shares of the scientific and technical instruments company’s stock worth $266,000 after acquiring an additional 287 shares during the period. Parkside Financial Bank & Trust raised its holdings in Cognex by 11.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,760 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 294 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Cognex by 19.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,199 shares of the scientific and technical instruments company’s stock valued at $92,000 after acquiring an additional 355 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Cognex by 27.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,929 shares of the scientific and technical instruments company’s stock valued at $82,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CGNX shares. The Goldman Sachs Group lifted their price objective on Cognex from $36.00 to $41.00 and gave the company a “sell” rating in a report on Monday, May 6th. Needham & Company LLC lifted their price objective on Cognex from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Robert W. Baird lifted their price objective on Cognex from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Truist Financial lifted their price target on Cognex from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Stephens lifted their price target on Cognex from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cognex currently has a consensus rating of “Hold” and an average price target of $50.14.

Cognex Trading Up 2.0 %

NASDAQ CGNX opened at $49.68 on Friday. The business’s 50-day moving average price is $47.42 and its two-hundred day moving average price is $42.73. Cognex Co. has a 12 month low of $34.28 and a 12 month high of $55.08. The firm has a market capitalization of $8.53 billion, a PE ratio of 85.66 and a beta of 1.42.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. Cognex had a return on equity of 6.81% and a net margin of 11.76%. The firm had revenue of $210.80 million for the quarter, compared to analyst estimates of $198.14 million. As a group, analysts forecast that Cognex Co. will post 0.46 earnings per share for the current fiscal year.

Cognex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.60%. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.