California State Teachers Retirement System Has $5.76 Million Stock Holdings in Cognex Co. (NASDAQ:CGNX)

California State Teachers Retirement System trimmed its holdings in Cognex Co. (NASDAQ:CGNX) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 160,516 shares of the scientific and technical instruments company’s stock after selling 1,974 shares during the quarter. California State Teachers Retirement System’s holdings in Cognex were worth $5,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Cognex by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 18,479,828 shares of the scientific and technical instruments company’s stock valued at $662,687,000 after purchasing an additional 296,251 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Cognex by 27.3% in the 4th quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company’s stock valued at $209,427,000 after purchasing an additional 1,253,996 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Cognex by 13.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,820,394 shares of the scientific and technical instruments company’s stock valued at $136,999,000 after purchasing an additional 461,724 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Cognex by 1.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company’s stock valued at $80,923,000 after purchasing an additional 25,492 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Cognex in the 4th quarter valued at about $79,797,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CGNX shares. Truist Financial dropped their price objective on Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. TD Cowen raised Cognex from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Monday, April 28th. The Goldman Sachs Group dropped their price target on Cognex from $33.00 to $29.00 and set a “sell” rating on the stock in a research note on Tuesday, May 6th. UBS Group dropped their price target on Cognex from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Needham & Company LLC dropped their price target on Cognex from $41.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cognex currently has a consensus rating of “Hold” and a consensus price target of $39.17.

Cognex Stock Down 2.6%

Shares of Cognex stock opened at $29.93 on Monday. The company has a market cap of $5.02 billion, a PE ratio of 49.07 and a beta of 1.45. Cognex Co. has a 52 week low of $22.67 and a 52 week high of $53.13. The business has a 50 day moving average price of $27.80 and a 200-day moving average price of $33.45.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, May 15th. Cognex’s dividend payout ratio (DPR) is presently 47.06%.

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.