Cognex Co. (NASDAQ:CGNX) Holdings Decreased by Geneva Capital Management LLC

Geneva Capital Management LLC cut its position in shares of Cognex Co. (NASDAQ:CGNX) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,908 shares of the scientific and technical instruments company’s stock after selling 424 shares during the quarter. Geneva Capital Management LLC’s holdings in Cognex were worth $3,602,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Cognex by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 17,334,064 shares of the scientific and technical instruments company’s stock worth $723,524,000 after buying an additional 203,149 shares during the last quarter. Brown Capital Management LLC boosted its stake in Cognex by 5.1% in the fourth quarter. Brown Capital Management LLC now owns 5,419,313 shares of the scientific and technical instruments company’s stock valued at $226,202,000 after acquiring an additional 262,003 shares during the period. Impax Asset Management Group plc boosted its stake in Cognex by 1.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,842,978 shares of the scientific and technical instruments company’s stock valued at $118,666,000 after acquiring an additional 31,483 shares during the period. Nordea Investment Management AB grew its holdings in shares of Cognex by 29.0% during the first quarter. Nordea Investment Management AB now owns 2,663,900 shares of the scientific and technical instruments company’s stock valued at $113,722,000 after purchasing an additional 598,207 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cognex by 2.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,002,798 shares of the scientific and technical instruments company’s stock worth $83,597,000 after purchasing an additional 52,672 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cognex Stock Up 2.6 %

Shares of NASDAQ:CGNX traded up $1.29 on Thursday, reaching $50.63. The company had a trading volume of 1,590,560 shares, compared to its average volume of 1,335,281. The stock has a market capitalization of $8.69 billion, a P/E ratio of 85.07 and a beta of 1.42. The stock has a 50-day moving average price of $46.33 and a 200 day moving average price of $41.90. Cognex Co. has a twelve month low of $34.28 and a twelve month high of $59.51.

Cognex (NASDAQ:CGNX) last posted its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share for the quarter. Cognex had a return on equity of 6.81% and a net margin of 11.76%. The firm had revenue of $210.80 million during the quarter, compared to analyst estimates of $198.14 million. On average, sell-side analysts predict that Cognex Co. will post 0.46 earnings per share for the current fiscal year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.075 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.59%. Cognex’s payout ratio is presently 51.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Needham & Company LLC upped their target price on shares of Cognex from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Truist Financial lifted their price target on Cognex from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Stephens increased their price objective on Cognex from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Citigroup lifted their target price on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cognex has an average rating of “Hold” and a consensus target price of $49.54.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.