Cognex Co. (CGNX) Shares Sold by Royce & Associates LP
Royce & Associates LP trimmed its holdings in Cognex Co. (NASDAQ:CGNX) by 15.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,186,415 shares of the scientific and technical instruments company’s stock after selling 220,400 shares during the quarter. Cognex makes up approximately 0.9% of Royce & Associates LP’s holdings, making the stock its 4th biggest position. Royce & Associates LP owned 1.37% of Cognex worth $130,838,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Daiwa Securities Group Inc. purchased a new stake in shares of Cognex during the 2nd quarter worth approximately $102,000. Huntington National Bank raised its holdings in shares of Cognex by 67.3% during the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after acquiring an additional 550 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Cognex during the 3rd quarter worth approximately $214,000. Empirical Finance LLC purchased a new stake in shares of Cognex during the 3rd quarter worth approximately $209,000. Finally, IFP Advisors Inc raised its holdings in shares of Cognex by 46.8% during the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 84.25% of the company’s stock.
Shares of Cognex Co. (NASDAQ CGNX) opened at $62.89 on Wednesday. Cognex Co. has a twelve month low of $29.04 and a twelve month high of $72.99. The firm has a market capitalization of $10,963.60, a price-to-earnings ratio of 46.72 and a beta of 1.50.
Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Cognex’s quarterly revenue was up 75.6% compared to the same quarter last year. analysts forecast that Cognex Co. will post 1.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.18 annualized dividend and a yield of 0.29%. Cognex’s payout ratio is presently 13.28%.
In related news, CEO Robert Willett sold 100,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the sale, the chief executive officer now owns 100,000 shares in the company, valued at approximately $12,719,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodor Krantz sold 15,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $134.05, for a total value of $2,010,750.00. Following the completion of the sale, the director now owns 26,250 shares in the company, valued at approximately $3,518,812.50. The disclosure for this sale can be found here. Insiders have sold a total of 148,750 shares of company stock worth $19,097,525 in the last 90 days. 5.60% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on CGNX. Zacks Investment Research cut Cognex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. J P Morgan Chase & Co cut Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective on the stock. in a report on Wednesday, November 8th. Robert W. Baird upped their price objective on Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Wolfe Research raised Cognex from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Canaccord Genuity upped their price objective on Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.86.
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Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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