Cognex Co. (CGNX) Shares Bought by First Republic Investment Management Inc.
First Republic Investment Management Inc. increased its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 108.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,065 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,786 shares during the period. First Republic Investment Management Inc.’s holdings in Cognex were worth $799,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Cerebellum GP LLC purchased a new stake in Cognex during the 4th quarter valued at about $126,000. Strs Ohio purchased a new stake in Cognex during the 4th quarter valued at about $133,000. Clear Perspective Advisors LLC grew its stake in Cognex by 100.0% during the 4th quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $135,000 after purchasing an additional 1,100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Cognex by 157.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,597 shares of the scientific and technical instruments company’s stock valued at $159,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Cognex during the 4th quarter valued at about $171,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.
CGNX has been the topic of several research analyst reports. Deutsche Bank set a $80.00 price target on Cognex and gave the company a “buy” rating in a research note on Friday, January 19th. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target on the stock. in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $66.83.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. research analysts anticipate that Cognex Co. will post 1.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.045 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.34%. Cognex’s dividend payout ratio (DPR) is presently 18.37%.
Cognex declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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Cognex 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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