Westpac Banking Corp reduced its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 67.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,153 shares of the scientific and technical instruments company’s stock after selling 61,837 shares during the quarter. Westpac Banking Corp’s holdings in Cognex Corporation were worth $3,325,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGNX. Teachers Advisors LLC grew its stake in shares of Cognex Corporation by 208.2% during the first quarter. Teachers Advisors LLC now owns 238,329 shares of the scientific and technical instruments company’s stock valued at $20,008,000 after purchasing an additional 160,999 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Cognex Corporation by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,022 shares of the scientific and technical instruments company’s stock valued at $422,000 after acquiring an additional 138 shares during the last quarter. Credit Suisse AG boosted its stake in Cognex Corporation by 22.4% in the first quarter. Credit Suisse AG now owns 186,206 shares of the scientific and technical instruments company’s stock valued at $15,632,000 after acquiring an additional 34,120 shares during the last quarter. HighTower Advisors LLC boosted its stake in Cognex Corporation by 90.8% in the first quarter. HighTower Advisors LLC now owns 7,857 shares of the scientific and technical instruments company’s stock valued at $653,000 after acquiring an additional 3,738 shares during the last quarter. Finally, Janus Capital Management LLC boosted its stake in Cognex Corporation by 47.8% in the first quarter. Janus Capital Management LLC now owns 98,600 shares of the scientific and technical instruments company’s stock valued at $8,277,000 after acquiring an additional 31,900 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Director Theodor Krantz sold 15,000 shares of Cognex Corporation stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the completion of the sale, the director now owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Willett sold 8,241 shares of Cognex Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $103.09, for a total transaction of $849,564.69. Following the sale, the chief executive officer now directly owns 8,241 shares of the company’s stock, valued at approximately $849,564.69. The disclosure for this sale can be found here. In the last three months, insiders sold 158,991 shares of company stock valued at $19,974,890. Insiders own 5.60% of the company’s stock.
Shares of Cognex Corporation (NASDAQ CGNX) opened at $137.73 on Wednesday. Cognex Corporation has a 52 week low of $57.12 and a 52 week high of $140.94. The stock has a market cap of $11,905.66, a price-to-earnings ratio of 50.74 and a beta of 1.48.
Cognex Corporation’s stock is set to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly issued shares will be issued to shareholders after the market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The company had revenue of $259.74 million during the quarter, compared to the consensus estimate of $255.95 million. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 75.6% on a year-over-year basis. equities research analysts expect that Cognex Corporation will post 2.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio (DPR) is 12.55%.
A number of equities analysts have issued reports on CGNX shares. Zacks Investment Research cut shares of Cognex Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. J P Morgan Chase & Co lowered shares of Cognex Corporation from a “neutral” rating to an “underweight” rating and set a $125.00 price objective on the stock. in a report on Wednesday, November 8th. Robert W. Baird raised their price objective on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Finally, Canaccord Genuity raised their price objective on shares of Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $106.88.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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