HL Financial Services LLC reduced its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,010 shares of the scientific and technical instruments company’s stock after selling 11,933 shares during the quarter. HL Financial Services LLC owned approximately 0.06% of Cognex worth $5,392,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CGNX. Iberiabank Corp boosted its position in shares of Cognex by 3.8% in the 1st quarter. Iberiabank Corp now owns 6,224 shares of the scientific and technical instruments company’s stock valued at $317,000 after purchasing an additional 229 shares during the period. Private Capital Group LLC raised its stake in Cognex by 50.7% during the 1st quarter. Private Capital Group LLC now owns 847 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 285 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Cognex by 9.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,822 shares of the scientific and technical instruments company’s stock valued at $148,000 after acquiring an additional 335 shares during the last quarter. Advisory Services Network LLC raised its stake in Cognex by 223.0% during the 4th quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new position in shares of Cognex during the 1st quarter worth approximately $33,000. 94.53% of the stock is owned by institutional investors and hedge funds.
In related news, insider John J. Curran sold 50,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $612,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Cognex from a “buy” rating to a “sell” rating in a research note on Tuesday, April 23rd. Gordon Haskett began coverage on Cognex in a research note on Wednesday, April 17th. They set a “hold” rating and a $54.00 target price for the company. BidaskClub cut Cognex from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Sanford C. Bernstein cut Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a report on Tuesday, April 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Cognex has an average rating of “Hold” and a consensus price target of $52.20.
Shares of CGNX stock traded down $0.30 during mid-day trading on Wednesday, hitting $41.69. 862,360 shares of the company’s stock were exchanged, compared to its average volume of 1,275,243. Cognex Co. has a fifty-two week low of $34.88 and a fifty-two week high of $59.18. The company has a quick ratio of 7.46, a current ratio of 8.31 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.78 and a beta of 1.95.
Cognex (NASDAQ:CGNX) last issued its earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $173.50 million for the quarter, compared to analyst estimates of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. As a group, analysts anticipate that Cognex Co. will post 1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, May 16th. Cognex’s dividend payout ratio (DPR) is currently 16.13%.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture 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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