Icon Wealth Advisors LLC Decreases Position in Cognex Co. (NASDAQ:CGNX)

Icon Wealth Advisors LLC cut its stake in shares of Cognex Co. (NASDAQ:CGNX) by 80.2% during the third quarter, HoldingsChannel reports. The firm owned 1,054 shares of the scientific and technical instruments company’s stock after selling 4,273 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Cognex were worth $43,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Cognex during the 3rd quarter worth $25,000. Advisors Asset Management Inc. boosted its position in shares of Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares in the last quarter. GAMMA Investing LLC lifted its position in Cognex by 276.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 798 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Cognex during the 2nd quarter worth about $55,000. Finally, Signaturefd LLC lifted its position in Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 514 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson reduced their price objective on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. The Goldman Sachs Group lowered their price objective on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Truist Financial cut Cognex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $43.00 in a report on Tuesday, November 5th. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Robert W. Baird decreased their price objective on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cognex currently has an average rating of “Hold” and a consensus price target of $47.91.

Cognex Trading Up 3.8 %

Cognex stock opened at $40.67 on Monday. Cognex Co. has a twelve month low of $34.79 and a twelve month high of $53.13. The stock’s fifty day simple moving average is $39.97 and its 200-day simple moving average is $42.91. The firm has a market capitalization of $6.98 billion, a P/E ratio of 78.21 and a beta of 1.40.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. This is a positive change from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is currently 61.54%.

Insider Transactions at Cognex

In related news, CFO Dennis Fehr acquired 6,570 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at $249,922.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Cognex Company 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.