Cognex Corporation (CGNX) Stake Boosted by Legal & General Group Plc
Legal & General Group Plc lifted its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 24.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,867 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,734 shares during the quarter. Legal & General Group Plc owned about 0.08% of Cognex Corporation worth $5,592,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Cognex Corporation by 6.1% during the 1st quarter. FMR LLC now owns 885,949 shares of the scientific and technical instruments company’s stock worth $74,375,000 after purchasing an additional 51,144 shares during the period. BlackRock Inc. grew its stake in shares of Cognex Corporation by 16,264.7% during the 1st quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock worth $558,773,000 after purchasing an additional 6,615,351 shares during the period. Handelsinvest Investeringsforvaltning grew its stake in shares of Cognex Corporation by 22.9% during the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 93,400 shares of the scientific and technical instruments company’s stock worth $7,930,000 after purchasing an additional 17,400 shares during the period. Fifth Third Bancorp grew its stake in shares of Cognex Corporation by 69.9% during the 1st quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after purchasing an additional 650 shares during the period. Finally, LS Investment Advisors LLC grew its stake in shares of Cognex Corporation by 16.3% during the 2nd quarter. LS Investment Advisors LLC now owns 8,557 shares of the scientific and technical instruments company’s stock worth $726,000 after purchasing an additional 1,200 shares during the period. 87.30% of the stock is currently owned by institutional investors and hedge funds.
In other Cognex Corporation news, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the sale, the director now directly owns 5,625 shares in the company, valued at $599,062.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total transaction of $513,350.00. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at $616,020. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock worth $12,686,176. 5.60% of the stock is owned by company insiders.
Shares of Cognex Corporation (NASDAQ CGNX) opened at 107.91 on Friday. The firm has a market capitalization of $9.34 billion, a PE ratio of 49.30 and a beta of 1.40. Cognex Corporation has a 52 week low of $47.25 and a 52 week high of $110.69. The company has a 50-day moving average of $102.09 and a 200-day moving average of $90.25.
Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million for the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the business earned $0.50 earnings per share. Cognex Corporation’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts forecast that Cognex Corporation will post $2.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, August 16th. Cognex Corporation’s dividend payout ratio (DPR) is presently 15.60%.
CGNX has been the topic of a number of recent analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $100.00 price target on shares of Cognex Corporation in a research note on Tuesday, July 11th. Zacks Investment Research raised shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, July 4th. BidaskClub cut shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Wolfe Research raised shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $82.75.
About Cognex Corporation
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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