Phoenix Holdings Ltd. decreased its position in Cognex Co. (NASDAQ:CGNX) by 44.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,447 shares of the scientific and technical instruments company’s stock after selling 2,744 shares during the quarter. Phoenix Holdings Ltd.’s holdings in Cognex were worth $211,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV purchased a new stake in Cognex in the second quarter valued at approximately $26,000. Gradient Investments LLC purchased a new stake in shares of Cognex during the third quarter worth $26,000. CI Investments Inc. purchased a new stake in shares of Cognex during the third quarter worth $29,000. Orion Portfolio Solutions LLC increased its position in shares of Cognex by 42.8% during the second quarter. Orion Portfolio Solutions LLC now owns 604 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 181 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Cognex during the third quarter worth $44,000. 89.31% of the stock is currently owned by institutional investors.
In other Cognex news, Director Dianne M. Parrotte sold 7,500 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $67.86, for a total value of $508,950.00. Following the completion of the transaction, the director now owns 20,200 shares in the company, valued at $1,370,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony Sun sold 30,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $66.91, for a total transaction of $2,007,300.00. Insiders sold 492,500 shares of company stock valued at $34,807,493 in the last 90 days. 5.20% of the stock is currently owned by insiders.
CGNX has been the topic of a number of recent research reports. BidaskClub lowered Cognex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 10th. Wolfe Research initiated coverage on Cognex in a research report on Tuesday, August 25th. They set an “underperform” rating and a $47.00 price objective on the stock. Morgan Stanley upped their price objective on Cognex from $55.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, October 29th. Stephens initiated coverage on Cognex in a research report on Friday, October 16th. They set an “overweight” rating and a $85.00 price objective on the stock. Finally, Zacks Investment Research lowered Cognex from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Cognex presently has an average rating of “Hold” and a consensus target price of $59.56.
NASDAQ CGNX opened at $71.84 on Friday. Cognex Co. has a 1 year low of $35.20 and a 1 year high of $75.53. The company has a market capitalization of $12.55 billion, a PE ratio of 67.77 and a beta of 1.70. The company has a fifty day moving average of $68.99 and a two-hundred day moving average of $63.70.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. Cognex had a net margin of 24.72% and a return on equity of 13.45%. As a group, sell-side analysts anticipate that Cognex Co. will post 0.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from Cognex’s previous quarterly dividend of $0.06. Cognex’s dividend payout ratio is currently 20.69%.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products 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.
Featured Story: Cost of Equity For A Business, Investors
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX).
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.