Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,491 shares of the scientific and technical instruments company’s stock after selling 11,918 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cognex were worth $7,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. boosted its stake in Cognex by 2,053.1% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 647,930 shares of the scientific and technical instruments company’s stock worth $36,310,000 after purchasing an additional 617,837 shares during the period. Barclays PLC raised its position in Cognex by 320.3% during the 4th quarter. Barclays PLC now owns 422,698 shares of the scientific and technical instruments company’s stock worth $23,689,000 after buying an additional 322,118 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Cognex by 23.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,510,794 shares of the scientific and technical instruments company’s stock worth $74,225,000 after buying an additional 283,241 shares during the last quarter. Jennison Associates LLC purchased a new position in Cognex during the 4th quarter worth $14,771,000. Finally, Pictet Asset Management Ltd. raised its position in Cognex by 37.2% during the 4th quarter. Pictet Asset Management Ltd. now owns 955,747 shares of the scientific and technical instruments company’s stock worth $53,560,000 after buying an additional 259,332 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

Shares of CGNX traded up $3.92 during trading hours on Thursday, reaching $46.83. The company had a trading volume of 1,677,119 shares, compared to its average volume of 1,667,216. The firm has a 50 day simple moving average of $47.29 and a 200-day simple moving average of $50.99. The company has a current ratio of 5.04, a quick ratio of 4.54 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 40.03 and a beta of 1.96. Cognex Co. has a 12-month low of $35.20 and a 12-month high of $59.14.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Thursday, February 13th. The scientific and technical instruments company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The company had revenue of $169.77 million during the quarter, compared to analysts’ expectations of $161.20 million. Cognex had a net margin of 28.09% and a return on equity of 16.39%. Sell-side analysts forecast that Cognex Co. will post 0.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.22 annualized dividend and a yield of 0.47%. Cognex’s dividend payout ratio (DPR) is currently 18.97%.

In other Cognex news, Director Jerry A. Schneider sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $51.33, for a total transaction of $615,960.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $513,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.20% of the company’s stock.

A number of brokerages have commented on CGNX. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group began coverage on shares of Cognex in a research report on Thursday, December 12th. They set a “neutral” rating and a $52.00 price objective for the company. Zacks Investment Research downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday. TheStreet downgraded shares of Cognex from a “b-” rating to a “c+” rating in a research report on Thursday, March 12th. Finally, Morgan Stanley downgraded shares of Cognex from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $42.00 to $36.00 in a research report on Monday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.20.

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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