Dimensional Fund Advisors LP cut its position in Cognex Co. (NASDAQ:CGNX) by 18.5% during the fourth quarter, Holdings Channel reports. The fund owned 734,254 shares of the company’s stock after selling 166,146 shares during the period. Dimensional Fund Advisors LP’s holdings in Cognex were worth $46,714,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Cognex during the third quarter worth $206,000. Tower Research Capital LLC TRC increased its position in shares of Cognex by 1,789.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $210,000 after buying an additional 3,776 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Cognex during the third quarter worth $212,000. Creative Planning increased its position in shares of Cognex by 13.4% in the third quarter. Creative Planning now owns 4,159 shares of the company’s stock worth $220,000 after buying an additional 490 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Cognex during the third quarter worth $237,000. Hedge funds and other institutional investors own 90.00% of the company’s stock.
Cognex Co. (NASDAQ:CGNX) opened at 80.81 on Tuesday. Cognex Co. has a 1-year low of $35.15 and a 1-year high of $81.41. The stock has a market cap of $6.95 billion, a P/E ratio of 47.06 and a beta of 1.33. The company has a 50-day moving average price of $74.66 and a 200 day moving average price of $61.53.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 16th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. Cognex had a return on equity of 13.67% and a net margin of 26.59%. The firm had revenue of $129.32 million for the quarter, compared to analysts’ expectations of $116.93 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. Equities analysts expect that Cognex Co. will post $1.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Wednesday, March 1st. Cognex’s dividend payout ratio (DPR) is presently 20.13%.
CGNX has been the topic of a number of research analyst reports. TheStreet upgraded Cognex from a “c+” rating to a “b” rating in a research note on Thursday, March 9th. Deutsche Bank AG initiated coverage on Cognex in a research note on Thursday, December 8th. They issued a “buy” rating and a $74.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price (up previously from $61.00) on shares of Cognex in a research note on Friday, February 17th. Zacks Investment Research downgraded Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. Finally, JPMorgan Chase & Co. initiated coverage on Cognex in a research note on Thursday, January 26th. They issued a “neutral” rating and a $66.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cognex presently has a consensus rating of “Hold” and a consensus price target of $59.61.
In related news, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $77.85, for a total transaction of $389,250.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $389,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Willett sold 50,000 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $77.75, for a total value of $3,887,500.00. Following the transaction, the chief executive officer now owns 50,000 shares in the company, valued at $3,887,500. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock worth $8,311,250 over the last 90 days. 6.40% of the stock is currently owned by company insiders.
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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