BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Cognex Co. (NASDAQ:CGNX – Get Rating) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,294 shares of the scientific and technical instruments company’s stock after selling 1,758 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cognex were worth $720,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Cognex by 9.7% during the 4th quarter. First Horizon Advisors Inc. now owns 2,144 shares of the scientific and technical instruments company’s stock valued at $101,000 after purchasing an additional 189 shares in the last quarter. Utah Retirement Systems grew its stake in shares of Cognex by 0.7% in the third quarter. Utah Retirement Systems now owns 30,695 shares of the scientific and technical instruments company’s stock worth $1,272,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Cognex by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the scientific and technical instruments company’s stock worth $2,181,000 after purchasing an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cognex by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,321 shares of the scientific and technical instruments company’s stock worth $1,617,000 after purchasing an additional 201 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in shares of Cognex by 0.9% in the third quarter. SVB Wealth LLC now owns 27,417 shares of the scientific and technical instruments company’s stock valued at $1,137,000 after buying an additional 256 shares during the period. 91.24% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cognex
In other Cognex news, Director Patrick Alias sold 4,375 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $49.53, for a total transaction of $216,693.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
Cognex Price Performance
Cognex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 19th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, May 18th. Cognex’s payout ratio is 28.00%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on CGNX shares. UBS Group increased their price objective on Cognex from $48.00 to $52.00 in a research note on Friday, May 5th. Stephens reiterated an “equal weight” rating and issued a $45.00 price objective on shares of Cognex in a research report on Tuesday, February 21st. TheStreet cut Cognex from a “b-” rating to a “c” rating in a report on Friday, May 5th. Credit Suisse Group raised Cognex from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $44.00 in a research note on Thursday, February 23rd. Finally, Cowen decreased their price objective on Cognex from $50.00 to $48.00 in a research note on Friday, February 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cognex currently has an average rating of “Hold” and an average price target of $50.17.
About Cognex
Cognex Corp. engages in the provision of machine vision products and solutions. Its products include vision sensors, vision systems, 3D vision systems, barcode readers, barcode verifiers, vision software, and vision tools. Its solutions include alignment, dimensioning, item detection, edge intelligence, logistics barcode reading systems and tunnels, water identification, and tire inspection.
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