Westpac Banking Corp decreased its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 36.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,492 shares of the scientific and technical instruments company’s stock after selling 92,403 shares during the quarter. Westpac Banking Corp’s holdings in Cognex were worth $7,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CGNX. NEXT Financial Group Inc increased its stake in Cognex by 1,081.8% during the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 476 shares during the period. Bremer Bank National Association purchased a new stake in Cognex during the 1st quarter worth $27,000. Huntington National Bank increased its stake in Cognex by 173.6% during the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 401 shares during the period. Osborn Williams & Donohoe LLC purchased a new stake in Cognex during the 1st quarter worth $33,000. Finally, Coastal Capital Group Inc. purchased a new stake in Cognex during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Shares of CGNX traded down $0.34 during midday trading on Thursday, hitting $43.40. The company had a trading volume of 90,116 shares, compared to its average volume of 1,656,671. The firm has a 50 day moving average price of $43.79. The stock has a market cap of $7.43 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 3.32 and a beta of 2.08. Cognex Co. has a 52 week low of $34.88 and a 52 week high of $59.18. The company has a current ratio of 7.92, a quick ratio of 7.07 and a debt-to-equity ratio of 0.01.

Cognex (NASDAQ:CGNX) last released its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The company had revenue of $199.00 million during the quarter, compared to the consensus estimate of $194.65 million. Cognex had a net margin of 26.03% and a return on equity of 17.81%. The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, research analysts predict that Cognex Co. will post 0.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, August 15th. Cognex’s payout ratio is currently 16.13%.

CGNX has been the topic of several analyst reports. Goldman Sachs Group downgraded shares of Cognex from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $45.00 to $36.00 in a research note on Tuesday, July 16th. Sanford C. Bernstein downgraded shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price target on shares of Cognex from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, BidaskClub downgraded shares of Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $50.60.

Cognex Profile

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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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