Anthony Sun Sells 26,000 Shares of Cognex Co. (NASDAQ:CGNX) Stock

Cognex Co. (NASDAQ:CGNX) Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the sale, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This represents a 49.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Cognex Trading Down 3.1 %

Shares of NASDAQ CGNX opened at $40.24 on Wednesday. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 77.38 and a beta of 1.40. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13. The stock has a 50-day moving average price of $40.03 and a two-hundred day moving average price of $42.85.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. This is a boost from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. Cognex’s dividend payout ratio is currently 61.54%.

Institutional Trading of Cognex

A number of hedge funds have recently added to or reduced their stakes in CGNX. Riverview Trust Co bought a new position in shares of Cognex in the 3rd quarter valued at $25,000. Advisors Asset Management Inc. increased its holdings in Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares in the last quarter. Truvestments Capital LLC bought a new position in Cognex in the third quarter valued at about $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cognex during the third quarter valued at about $40,000. Finally, GAMMA Investing LLC grew its holdings in shares of Cognex by 276.1% during the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

CGNX has been the topic of a number of recent research reports. Needham & Company LLC lowered their price target on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Stephens raised Cognex from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. Truist Financial cut Cognex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $43.00 in a report on Tuesday, November 5th. Finally, DA Davidson cut their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.91.

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.