Cognex Co. (NASDAQ:CGNX) Holdings Lifted by State Street Corp

State Street Corp increased its position in shares of Cognex Co. (NASDAQ:CGNX) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,190,365 shares of the scientific and technical instruments company’s stock after acquiring an additional 42,882 shares during the period. State Street Corp owned approximately 3.03% of Cognex worth $210,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in shares of Cognex by 122.7% during the third quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company’s stock valued at $114,808,000 after purchasing an additional 1,562,115 shares during the last quarter. Impax Asset Management Group plc raised its stake in shares of Cognex by 32.8% in the 2nd quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company’s stock valued at $237,812,000 after acquiring an additional 1,259,116 shares in the last quarter. Railway Pension Investments Ltd acquired a new stake in shares of Cognex in the second quarter worth $27,196,000. Chevy Chase Trust Holdings LLC lifted its position in Cognex by 30.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 2,056,701 shares of the scientific and technical instruments company’s stock worth $96,171,000 after acquiring an additional 480,143 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in shares of Cognex by 116.0% during the 3rd quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company’s stock worth $31,977,000 after purchasing an additional 423,950 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CGNX. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and decreased their price target for the company from $46.00 to $43.00 in a research note on Tuesday, November 5th. Finally, Needham & Company LLC decreased their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cognex has a consensus rating of “Hold” and an average target price of $47.91.

Cognex Trading Up 0.6 %

Shares of NASDAQ CGNX opened at $37.71 on Friday. The firm’s 50-day moving average is $39.85 and its 200-day moving average is $42.13. The firm has a market capitalization of $6.47 billion, a PE ratio of 72.52 and a beta of 1.39. Cognex Co. has a 1 year low of $34.79 and a 1 year high of $53.13.

Cognex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. This is a boost from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is 61.54%.

Insider Buying and Selling

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the sale, the director now owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.