15,989 Shares in Cognex Co. (CGNX) Acquired by Stevens Capital Management LP
Stevens Capital Management LP purchased a new stake in Cognex Co. (NASDAQ:CGNX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,989 shares of the scientific and technical instruments company’s stock, valued at approximately $813,000.
Several other hedge funds have also recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new stake in Cognex in the 4th quarter valued at $25,000. Ruggie Capital Group bought a new stake in Cognex in the 4th quarter valued at $27,000. Executive Wealth Management LLC bought a new stake in Cognex in the 4th quarter valued at $27,000. Berman Capital Advisors LLC bought a new stake in Cognex in the 4th quarter valued at $29,000. Finally, CWM LLC lifted its position in Cognex by 1,952.6% in the 4th quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 742 shares in the last quarter. 97.20% of the stock is owned by institutional investors.
Shares of NASDAQ:CGNX opened at $45.15 on Thursday. Cognex Co. has a one year low of $34.88 and a one year high of $59.18. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 2.89 and a beta of 1.95.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.20 annualized dividend and a yield of 0.44%. Cognex’s dividend payout ratio (DPR) is presently 16.13%.
In other Cognex news, insider John J. Curran sold 50,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the sale, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $612,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodor Krantz sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the sale, the director now directly owns 52,500 shares in the company, valued at $2,791,950. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.
Several research firms recently commented on CGNX. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Morgan Stanley set a $47.00 price objective on shares of Cognex and gave the company a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Monday, February 11th. Needham & Company LLC cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Sanford C. Bernstein cut shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.20.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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