Copeland Capital Management LLC lowered its stake in Cognex Corporation (NASDAQ:CGNX) by 85.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,010 shares of the scientific and technical instruments company’s stock after selling 171,612 shares during the period. Copeland Capital Management LLC’s holdings in Cognex Corporation were worth $3,310,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in Cognex Corporation in the second quarter valued at $102,000. Huntington National Bank boosted its holdings in Cognex Corporation by 67.3% in the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after acquiring an additional 550 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cognex Corporation in the second quarter valued at $135,000. IFP Advisors Inc boosted its holdings in Cognex Corporation by 46.8% in the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after acquiring an additional 612 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Cognex Corporation by 2.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock valued at $170,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.
In related news, Director Theodor Krantz sold 9,750 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $103.78, for a total transaction of $1,011,855.00. Following the sale, the director now owns 22,500 shares of the company’s stock, valued at $2,335,050. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $111.31, for a total value of $556,550.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $556,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,750 shares of company stock worth $12,729,376. 5.60% of the stock is owned by corporate insiders.
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Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.29%. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio (DPR) is presently 12.55%.
Several research firms recently weighed in on CGNX. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Wednesday. Cowen and Company reiterated an “outperform” rating and issued a $135.00 price target (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Canaccord Genuity lifted their price target on shares of Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Cognex Corporation presently has a consensus rating of “Buy” and an average target price of $99.50.
Cognex Corporation 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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