Quantinno Capital Management LP Takes Position in Cognex Co. (NASDAQ:CGNX)

Quantinno Capital Management LP purchased a new position in Cognex Co. (NASDAQ:CGNX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,435 shares of the scientific and technical instruments company’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Cognex during the 2nd quarter worth about $567,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Cognex by 13.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,677 shares of the scientific and technical instruments company’s stock valued at $640,000 after buying an additional 1,581 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Cognex by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,309,827 shares of the scientific and technical instruments company’s stock valued at $61,248,000 after buying an additional 15,871 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Cognex by 8.3% in the second quarter. Raymond James & Associates now owns 379,100 shares of the scientific and technical instruments company’s stock worth $17,727,000 after buying an additional 29,118 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Cognex by 9.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 225,560 shares of the scientific and technical instruments company’s stock worth $10,547,000 after acquiring an additional 19,619 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cognex news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the transaction, the director now directly owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Cognex Stock Down 1.7 %

Shares of CGNX stock opened at $37.08 on Monday. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 71.31 and a beta of 1.39. Cognex Co. has a 52-week low of $34.79 and a 52-week high of $53.13. The company’s 50 day moving average is $39.80 and its 200 day moving average is $42.00.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. This is a positive change from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, November 14th. Cognex’s payout ratio is presently 61.54%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial downgraded Cognex from a “buy” rating to a “hold” rating and cut their price objective for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $55.00 in a research note on Wednesday, October 16th. Finally, Needham & Company LLC lowered their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.91.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.