Cognex Co. (NASDAQ:CGNX) Shares Sold by Engineers Gate Manager LP


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Engineers Gate Manager LP lessened its holdings in Cognex Co. (NASDAQ:CGNX) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,760 shares of the scientific and technical instruments company’s stock after selling 21,283 shares during the period. Engineers Gate Manager LP’s holdings in Cognex were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Cognex by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 4,666,937 shares of the scientific and technical instruments company’s stock worth $374,685,000 after acquiring an additional 207,492 shares in the last quarter. Navellier & Associates Inc lifted its stake in Cognex by 3.2% during the 4th quarter. Navellier & Associates Inc now owns 103,414 shares of the scientific and technical instruments company’s stock worth $8,303,000 after acquiring an additional 3,181 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Cognex by 16.0% during the 4th quarter. Park Avenue Securities LLC now owns 4,247 shares of the scientific and technical instruments company’s stock worth $341,000 after acquiring an additional 587 shares in the last quarter. Brinker Capital Investments LLC acquired a new position in Cognex during the 3rd quarter worth about $2,422,000. Finally, GWM Advisors LLC lifted its stake in Cognex by 3.4% during the 4th quarter. GWM Advisors LLC now owns 13,059 shares of the scientific and technical instruments company’s stock worth $1,048,000 after acquiring an additional 429 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

CGNX has been the topic of several research reports. Raymond James increased their target price on Cognex from $75.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Cowen upped their price target on Cognex from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Morgan Stanley upped their price target on Cognex from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, February 12th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “strong-buy” rating and set a $100.00 price target on the stock in a report on Thursday, February 18th. Finally, HSBC upgraded Cognex from a “hold” rating to a “buy” rating in a report on Thursday, January 14th. Four analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $71.90.

CGNX opened at $82.45 on Thursday. Cognex Co. has a one year low of $44.23 and a one year high of $101.82. The company has a market cap of $14.56 billion, a P/E ratio of 77.78 and a beta of 1.64. The business’s 50-day simple moving average is $81.99 and its 200-day simple moving average is $77.42.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Wednesday, February 10th. The scientific and technical instruments company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cognex had a return on equity of 13.45% and a net margin of 24.72%. The business had revenue of $223.62 million for the quarter, compared to the consensus estimate of $206.81 million. Analysts forecast that Cognex Co. will post 0.94 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 12th. Investors of record on Friday, February 26th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, February 25th. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. Cognex’s dividend payout ratio is presently 20.69%.

In related news, Director Jerry A. Schneider sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $82.26, for a total transaction of $411,300.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $411,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Carl Gerst sold 115,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 23rd. The stock was sold at an average price of $82.76, for a total value of $9,517,400.00. Insiders have sold a total of 129,800 shares of company stock worth $10,781,888 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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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