Northwestern Mutual Wealth Management Co. Purchases 892 Shares of Cognex Co. (NASDAQ:CGNX)

Northwestern Mutual Wealth Management Co. increased its position in shares of Cognex Co. (NASDAQ:CGNX) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 12,990 shares of the scientific and technical instruments company’s stock after acquiring an additional 892 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cognex were worth $1,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Blueprint LLC purchased a new position in shares of Cognex in the 2nd quarter worth $37,000. Newfound Research LLC purchased a new position in shares of Cognex during the 2nd quarter worth about $42,000. Penserra Capital Management LLC boosted its stake in shares of Cognex by 33.5% during the 2nd quarter. Penserra Capital Management LLC now owns 558 shares of the scientific and technical instruments company’s stock worth $46,000 after purchasing an additional 140 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Cognex by 185.4% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 722 shares of the scientific and technical instruments company’s stock worth $61,000 after purchasing an additional 469 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in Cognex during the 1st quarter valued at about $77,000. 88.25% of the stock is owned by institutional investors.

CGNX opened at $80.27 on Thursday. The firm has a fifty day moving average price of $85.25 and a 200 day moving average price of $83.29. Cognex Co. has a 1 year low of $64.23 and a 1 year high of $101.82. The stock has a market cap of $14.18 billion, a P/E ratio of 47.22 and a beta of 1.65.

Cognex (NASDAQ:CGNX) last posted its earnings results on Thursday, August 5th. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. Cognex had a net margin of 30.96% and a return on equity of 21.92%. The firm had revenue of $269.16 million during the quarter, compared to analysts’ expectations of $263.11 million. Analysts forecast that Cognex Co. will post 1.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Thursday, August 19th. Cognex’s dividend payout ratio is presently 24.00%.

In other Cognex news, Director Anthony Sun sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $86.41, for a total transaction of $2,592,300.00. Following the completion of the transaction, the director now directly owns 337,262 shares in the company, valued at $29,142,809.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick Alias sold 17,500 shares of the company’s stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $87.19, for a total transaction of $1,525,825.00. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Several equities research analysts have recently commented on CGNX shares. HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $92.00 price target for the company. in a report on Friday, August 6th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Wednesday, August 11th. Needham & Company LLC reissued a “hold” rating on shares of Cognex in a research report on Friday, August 6th. DA Davidson reaffirmed a “neutral” rating on shares of Cognex in a report on Tuesday, August 10th. Finally, Morgan Stanley dropped their price objective on shares of Cognex from $79.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.57.

Cognex Company Profile

Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks in processes, where vision is required. The company was founded by Robert J. Shillman, William Silver and Marilyn Matz in 1981 and is headquartered in Natick, MA.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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