Truvestments Capital LLC Acquires Shares of 896 Cognex Co. (NASDAQ:CGNX)

Truvestments Capital LLC bought a new position in Cognex Co. (NASDAQ:CGNX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 896 shares of the scientific and technical instruments company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also modified their holdings of CGNX. HHM Wealth Advisors LLC raised its stake in Cognex by 19.8% during the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after acquiring an additional 301 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Cognex by 11.3% during the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 390 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 394 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Cognex by 20.1% during the third quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 457 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Cognex by 2.4% during the third quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company’s stock worth $888,000 after buying an additional 512 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CGNX. StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC lowered their target price on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. Robert W. Baird decreased their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, DA Davidson dropped their target price on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.91.

Insider Activity at Cognex

In other Cognex news, CFO Dennis Fehr purchased 6,570 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the transaction, the director now owns 26,608 shares in the company, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Cognex Stock Down 0.3 %

NASDAQ:CGNX opened at $40.11 on Thursday. The stock’s fifty day simple moving average is $40.05 and its 200-day simple moving average is $42.81. The firm has a market capitalization of $6.88 billion, a P/E ratio of 77.39 and a beta of 1.40. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

Cognex Increases Dividend

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

Cognex 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.