Cognex Co. (NASDAQ:CGNX) CEO Sells $3,627,400.00 in Stock

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Cognex Co. (NASDAQ:CGNX) CEO Robert Willett sold 70,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.82, for a total value of $3,627,400.00. Following the sale, the chief executive officer now directly owns 70,000 shares in the company, valued at approximately $3,627,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Robert Willett also recently made the following trade(s):

  • On Tuesday, November 26th, Robert Willett sold 100,000 shares of Cognex stock. The stock was sold at an average price of $50.49, for a total value of $5,049,000.00.
  • On Friday, November 8th, Robert Willett sold 143,294 shares of Cognex stock. The stock was sold at an average price of $53.16, for a total value of $7,617,509.04.
  • On Wednesday, November 6th, Robert Willett sold 19,408 shares of Cognex stock. The stock was sold at an average price of $53.86, for a total value of $1,045,314.88.

Shares of CGNX traded up $1.03 during midday trading on Thursday, hitting $53.48. The stock had a trading volume of 300,776 shares, compared to its average volume of 833,835. The company has a 50 day simple moving average of $51.47 and a two-hundred day simple moving average of $46.89. Cognex Co. has a twelve month low of $34.88 and a twelve month high of $57.31. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 43.13 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.71 and a quick ratio of 6.90.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The firm had revenue of $183.33 million for the quarter, compared to the consensus estimate of $177.78 million. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 21.1% on a year-over-year basis. Analysts forecast that Cognex Co. will post 0.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.055 dividend. This is an increase from Cognex’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.22 annualized dividend and a dividend yield of 0.41%. Cognex’s dividend payout ratio (DPR) is currently 17.74%.

Several brokerages recently commented on CGNX. DA Davidson raised their price objective on Cognex from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley set a $47.00 price objective on Cognex and gave the stock a “hold” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on Cognex from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Daiwa Capital Markets set a $53.00 price objective on Cognex and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.27.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNX. Pinebridge Investments L.P. grew its holdings in shares of Cognex by 0.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 26,388 shares of the scientific and technical instruments company’s stock valued at $1,266,000 after acquiring an additional 232 shares in the last quarter. Circle Wealth Management LLC grew its holdings in shares of Cognex by 4.6% in the 2nd quarter. Circle Wealth Management LLC now owns 7,686 shares of the scientific and technical instruments company’s stock valued at $369,000 after acquiring an additional 336 shares in the last quarter. Schwab Charitable Fund grew its holdings in shares of Cognex by 8.9% in the 3rd quarter. Schwab Charitable Fund now owns 4,790 shares of the scientific and technical instruments company’s stock valued at $235,000 after acquiring an additional 390 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Cognex by 12.0% in the 2nd quarter. Captrust Financial Advisors now owns 3,767 shares of the scientific and technical instruments company’s stock valued at $181,000 after acquiring an additional 405 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its holdings in shares of Cognex by 42.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,408 shares of the scientific and technical instruments company’s stock valued at $69,000 after acquiring an additional 421 shares in the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

About Cognex

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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