Russell Investments Group Ltd. Purchases 5,672 Shares of Cognex Co. (NASDAQ:CGNX)

Russell Investments Group Ltd. increased its position in shares of Cognex Co. (NASDAQ:CGNXGet Rating) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,632 shares of the scientific and technical instruments company’s stock after buying an additional 5,672 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cognex were worth $6,004,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Beese Fulmer Investment Management Inc. boosted its position in Cognex by 6.2% during the first quarter. Beese Fulmer Investment Management Inc. now owns 2,760 shares of the scientific and technical instruments company’s stock valued at $213,000 after purchasing an additional 160 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Cognex by 1.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,514 shares of the scientific and technical instruments company’s stock valued at $662,000 after buying an additional 162 shares during the last quarter. FourThought Financial LLC lifted its position in shares of Cognex by 50.0% in the first quarter. FourThought Financial LLC now owns 585 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 195 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Cognex by 6.6% in the first quarter. Kestra Advisory Services LLC now owns 3,673 shares of the scientific and technical instruments company’s stock valued at $283,000 after buying an additional 227 shares during the last quarter. Finally, Probity Advisors Inc. lifted its position in shares of Cognex by 6.9% in the fourth quarter. Probity Advisors Inc. now owns 3,560 shares of the scientific and technical instruments company’s stock valued at $277,000 after buying an additional 229 shares during the last quarter. 88.85% of the stock is currently owned by institutional investors.

Insider Activity

In other Cognex news, Director Dianne M. Parrotte purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average price of $46.00 per share, for a total transaction of $138,000.00. Following the purchase, the director now owns 3,608 shares in the company, valued at approximately $165,968. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Cognex Price Performance

Cognex stock opened at $45.99 on Wednesday. The stock’s fifty day moving average price is $45.96 and its two-hundred day moving average price is $58.22. Cognex Co. has a one year low of $41.69 and a one year high of $92.17. The firm has a market cap of $7.97 billion, a PE ratio of 31.50 and a beta of 1.66.

Cognex (NASDAQ:CGNXGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The scientific and technical instruments company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Cognex had a return on equity of 19.19% and a net margin of 23.82%. During the same quarter last year, the firm posted $0.43 EPS. Sell-side analysts expect that Cognex Co. will post 1.16 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be paid a $0.065 dividend. The ex-dividend date is Thursday, August 18th. This represents a $0.26 annualized dividend and a dividend yield of 0.57%. Cognex’s payout ratio is 17.81%.

Analysts Set New Price Targets

CGNX has been the subject of a number of recent analyst reports. Daiwa Capital Markets cut their price objective on Cognex to $54.00 in a research report on Tuesday. UBS Group cut their price objective on Cognex from $80.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. TheStreet cut Cognex from a “b-” rating to a “c+” rating in a research report on Tuesday, May 24th. Sanford C. Bernstein raised Cognex from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Wednesday, August 3rd. Finally, The Goldman Sachs Group cut their price objective on Cognex from $59.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.75.

About Cognex

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Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

See Also

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