Inspire Investing LLC Raises Holdings in Cognex Co. (NASDAQ:CGNX)

Inspire Investing LLC increased its stake in Cognex Co. (NASDAQ:CGNX) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,296 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,451 shares during the period. Inspire Investing LLC’s holdings in Cognex were worth $1,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CGNX. Massmutual Trust Co. FSB ADV lifted its position in Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 286 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Cognex by 303.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 579 shares during the period. Rise Advisors LLC boosted its holdings in shares of Cognex by 1,239.7% in the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 719 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in shares of Cognex by 71.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,295 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 541 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Cognex during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Stock Up 1.0 %

CGNX stock traded up $0.53 during mid-day trading on Tuesday, hitting $52.31. 421,872 shares of the company were exchanged, compared to its average volume of 1,324,973. The business has a fifty day simple moving average of $46.76 and a 200-day simple moving average of $42.08. The firm has a market capitalization of $8.98 billion, a P/E ratio of 89.28 and a beta of 1.42. Cognex Co. has a 12-month low of $34.28 and a 12-month high of $59.51.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. The company had revenue of $210.80 million for the quarter, compared to analysts’ expectations of $198.14 million. Cognex had a return on equity of 6.81% and a net margin of 11.76%. Research analysts predict that Cognex Co. will post 0.46 EPS for the current year.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.57%. Cognex’s dividend payout ratio (DPR) is currently 51.72%.

Analyst Ratings Changes

CGNX has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Cognex from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, May 6th. Truist Financial lifted their price target on shares of Cognex from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Stephens upped their price objective on shares of Cognex from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Citigroup boosted their target price on shares of Cognex from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and raised their price target for the company from $42.00 to $54.00 in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cognex has a consensus rating of “Hold” and an average price target 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.