PNC Financial Services Group Inc. boosted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 25.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,167 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,517 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cognex were worth $1,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Louisiana State Employees Retirement System increased its stake in Cognex by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 46,700 shares of the scientific and technical instruments company’s stock worth $2,083,000 after acquiring an additional 1,100 shares during the last quarter. Advisor Partners LLC increased its stake in Cognex by 26.6% during the second quarter. Advisor Partners LLC now owns 5,418 shares of the scientific and technical instruments company’s stock worth $242,000 after acquiring an additional 1,140 shares during the last quarter. KBC Group NV increased its stake in Cognex by 2.8% during the second quarter. KBC Group NV now owns 42,494 shares of the scientific and technical instruments company’s stock worth $1,896,000 after acquiring an additional 1,144 shares during the last quarter. Aperio Group LLC increased its stake in Cognex by 2.0% during the first quarter. Aperio Group LLC now owns 66,026 shares of the scientific and technical instruments company’s stock worth $3,433,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Intrust Bank NA increased its stake in Cognex by 11.7% during the second quarter. Intrust Bank NA now owns 13,085 shares of the scientific and technical instruments company’s stock worth $583,000 after acquiring an additional 1,366 shares during the last quarter. 90.29% of the stock is currently owned by institutional investors.

CGNX opened at $55.37 on Tuesday. The company has a market cap of $9.58 billion, a PE ratio of 39.79 and a beta of 1.66. Cognex Co. has a one year low of $39.90 and a one year high of $72.99.

Cognex (NASDAQ:CGNX) last released its earnings results on Monday, July 30th. The scientific and technical instruments company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $211.26 million for the quarter, compared to analysts’ expectations of $204.87 million. Cognex had a return on equity of 22.95% and a net margin of 20.57%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. sell-side analysts forecast that Cognex Co. will post 1.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a dividend of $0.045 per share. The ex-dividend date was Thursday, August 16th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.33%. Cognex’s dividend payout ratio is 12.41%.

CGNX has been the topic of several analyst reports. ValuEngine raised Cognex from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. BidaskClub raised Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Northcoast Research set a $56.00 target price on Cognex and gave the company a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating and set a $57.00 target price on the stock in a research note on Wednesday, August 1st. Finally, Morgan Stanley initiated coverage on Cognex in a research note on Monday, August 20th. They set an “equal weight” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.79.

In related news, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $56.04, for a total value of $560,400.00. Following the completion of the sale, the director now owns 264,262 shares in the company, valued at $14,809,242.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $54.29, for a total value of $271,450.00. Following the completion of the sale, the director now owns 7,000 shares of the company’s stock, valued at approximately $380,030. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,500 shares of company stock worth $1,493,200. Insiders own 5.40% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX).

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.