2,626 Shares in Cognex Corporation (CGNX) Purchased by Investment Centers of America Inc.
Investment Centers of America Inc. purchased a new position in Cognex Corporation (NASDAQ:CGNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,626 shares of the scientific and technical instruments company’s stock, valued at approximately $289,000.
Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. bought a new position in shares of Cognex in the 2nd quarter worth $102,000. Huntington National Bank increased its holdings in shares of Cognex by 67.3% in the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after buying an additional 550 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Cognex by 46.8% in the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after buying an additional 612 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Cognex by 2.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after buying an additional 47 shares during the last quarter. Finally, National Planning Corp bought a new position in shares of Cognex in the 2nd quarter worth $204,000. 86.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on CGNX shares. J P Morgan Chase & Co cut shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective for the company. in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub raised shares of Cognex from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Robert W. Baird upped their price objective on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, Canaccord Genuity upped their price objective on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $53.44.
Shares of Cognex Corporation (CGNX) opened at $138.49 on Friday. Cognex Corporation has a 12 month low of $57.42 and a 12 month high of $145.98. The stock has a market cap of $11,998.31, a price-to-earnings ratio of 51.13 and a beta of 1.50.
Cognex’s stock is scheduled to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be distributed to shareholders after the market closes on Friday, December 1st.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The firm’s revenue was up 75.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. analysts predict that Cognex Corporation will post 2.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a dividend of $0.045 per share. The ex-dividend date was Thursday, November 16th. This represents a $0.18 annualized dividend and a yield of 0.13%. Cognex’s payout ratio is currently 13.28%.
In other Cognex news, Director Bruce Robinson J sold 7,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the sale, the director now owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Willett sold 100,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $12,719,000. The disclosure for this sale can be found here. Insiders have sold a total of 155,750 shares of company stock valued at $19,843,025 in the last three months. 5.60% of the stock is currently owned by corporate insiders.
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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