Connor Clark & Lunn Investment Management Ltd. Invests $7.67 Million in Cognex Corporation $CGNX

Connor Clark & Lunn Investment Management Ltd. bought a new position in Cognex Corporation (NASDAQ:CGNX) during the second quarter, HoldingsChannel reports. The fund bought 105,970 shares of the scientific and technical instruments company’s stock, valued at approximately $7,674,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Cognex during the second quarter valued at about $1,158,123,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cognex by 173,138.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,477,448 shares of the scientific and technical instruments company’s stock worth $376,979,000 after buying an additional 10,471,400 shares during the period. Norges Bank purchased a new position in shares of Cognex during the 4th quarter valued at about $73,103,000. Alyeska Investment Group L.P. bought a new position in shares of Cognex during the 4th quarter valued at approximately $68,388,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Cognex during the 2nd quarter valued at approximately $129,348,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Trading Up 3.2%

Shares of CGNX stock opened at $61.72 on Thursday. Cognex Corporation has a 12-month low of $34.60 and a 12-month high of $72.88. The stock’s 50-day moving average price is $64.60 and its 200-day moving average price is $59.30. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 59.92 and a beta of 1.49.

Cognex (NASDAQ:CGNX) last posted its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Cognex had a return on equity of 13.50% and a net margin of 16.05%.The firm had revenue of $291.26 million during the quarter, compared to the consensus estimate of $292.10 million. During the same period in the prior year, the company earned $0.25 EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. As a group, research analysts predict that Cognex Corporation will post 1.68 EPS for the current fiscal year.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a dividend of $0.085 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.34 dividend on an annualized basis and a yield of 0.6%. Cognex’s dividend payout ratio is 33.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Monday, August 10th. Barclays reiterated an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Cognex in a research report on Monday, August 10th. DA Davidson set a $65.00 price objective on shares of Cognex and gave the stock a “neutral” rating in a research note on Monday, August 10th. Seaport Research Partners set a $75.00 price objective on shares of Cognex in a research report on Tuesday, May 26th. Finally, Citigroup reiterated a “neutral” rating and issued a $74.00 price target (up from $72.00) on shares of Cognex in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.64.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.