Northern Trust Corp Sells 59,499 Shares of Cognex Corporation (CGNX)
Northern Trust Corp trimmed its holdings in shares of Cognex Corporation (NASDAQ:CGNX) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 716,769 shares of the scientific and technical instruments company’s stock after selling 59,499 shares during the quarter. Northern Trust Corp owned approximately 0.83% of Cognex Corporation worth $60,854,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CGNX. BlackRock Inc. grew its position in Cognex Corporation by 16,264.7% during the first quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock valued at $558,773,000 after buying an additional 6,615,351 shares during the period. Ameriprise Financial Inc. grew its position in Cognex Corporation by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock valued at $198,864,000 after buying an additional 1,309,047 shares during the period. Goldman Sachs Group Inc. grew its position in Cognex Corporation by 86.7% during the first quarter. Goldman Sachs Group Inc. now owns 888,783 shares of the scientific and technical instruments company’s stock valued at $74,613,000 after buying an additional 412,652 shares during the period. American Century Companies Inc. bought a new stake in Cognex Corporation during the second quarter valued at approximately $31,281,000. Finally, Vanguard Group Inc. grew its position in Cognex Corporation by 5.0% during the first quarter. Vanguard Group Inc. now owns 6,574,861 shares of the scientific and technical instruments company’s stock valued at $551,959,000 after buying an additional 311,769 shares during the period. Institutional investors own 87.25% of the company’s stock.
Several analysts recently issued reports on CGNX shares. BidaskClub lowered shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, July 4th. Cowen and Company restated a “buy” rating and set a $100.00 target price on shares of Cognex Corporation in a research report on Tuesday, July 11th. Finally, Wolfe Research started coverage on shares of Cognex Corporation in a research report on Tuesday, July 11th. They set a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Cognex Corporation has an average rating of “Buy” and a consensus price target of $82.75.
In other Cognex Corporation news, Director Theodor Krantz sold 9,750 shares of Cognex Corporation stock in a transaction on Monday, August 14th. The shares were 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 approximately $2,335,050. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick Alias sold 5,000 shares of Cognex Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $111.31, for a total transaction 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. Insiders sold a total of 126,750 shares of company stock worth $13,242,726 in the last three months. 5.60% of the stock is owned by corporate insiders.
Cognex Corporation (NASDAQ CGNX) opened at 115.92 on Thursday. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 52.96 and a beta of 1.42. Cognex Corporation has a 52-week low of $49.68 and a 52-week high of $115.97. The firm has a 50 day moving average of $108.61 and a 200-day moving average of $94.60.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts expect that Cognex Corporation will post $2.55 EPS for the current year.
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Cognex Corporation 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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