Cognex Co. (NASDAQ:CGNX) Holdings Increased by JB Capital LLC

JB Capital LLC lifted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 7.9% during the third quarter, Holdings Channel.com reports. The fund owned 31,844 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,323 shares during the period. JB Capital LLC’s holdings in Cognex were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CGNX. Price T Rowe Associates Inc. MD grew its position in Cognex by 986.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock valued at $68,679,000 after purchasing an additional 1,469,961 shares in the last quarter. Swedbank AB acquired a new position in Cognex in the 1st quarter worth about $58,502,000. Impax Asset Management Group plc raised its stake in shares of Cognex by 32.8% during the 2nd quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company’s stock worth $237,812,000 after purchasing an additional 1,259,116 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Cognex by 41.4% in the 1st quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company’s stock valued at $157,659,000 after buying an additional 1,088,095 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Cognex by 132.0% in the second quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company’s stock valued at $59,509,000 after acquiring an additional 723,976 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 9th. The Goldman Sachs Group dropped their target price on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Vertical Research started coverage on Cognex in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price target on the stock. DA Davidson lowered their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Finally, Truist Financial downgraded shares of Cognex from a “buy” rating to a “hold” rating and reduced their price target for the company from $46.00 to $43.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.91.

Cognex Stock Up 0.6 %

Shares of CGNX stock traded up $0.26 during trading on Thursday, reaching $42.86. The company’s stock had a trading volume of 122,010 shares, compared to its average volume of 1,281,048. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The business has a fifty day moving average price of $39.50 and a 200-day moving average price of $42.99. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 81.92 and a beta of 1.40.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.08 dividend. This is a boost from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. Cognex’s dividend payout ratio (DPR) is presently 61.54%.

Insider Buying and Selling

In related news, CFO Dennis Fehr bought 6,570 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $38.04 per share, for a total transaction of $249,922.80. Following the purchase, the chief financial officer now owns 6,570 shares in the company, valued at $249,922.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

About Cognex

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.