Wolverine Trading LLC Buys New Holdings in Cognex Co. (NASDAQ:CGNX)

Wolverine Trading LLC purchased a new position in shares of Cognex Co. (NASDAQ:CGNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,697 shares of the scientific and technical instruments company’s stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of Cognex during the 3rd quarter worth about $25,000. Advisors Asset Management Inc. boosted its holdings in shares of Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 394 shares during the period. Truvestments Capital LLC acquired a new position in shares of Cognex in the third quarter valued at approximately $36,000. Point72 Hong Kong Ltd bought a new position in shares of Cognex during the second quarter worth approximately $55,000. Finally, Signaturefd LLC lifted its holdings in Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock worth $80,000 after purchasing an additional 514 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

Insider Activity

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 26,608 shares in the company, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Cognex Trading Down 1.7 %

Shares of Cognex stock opened at $37.08 on Monday. The company has a market cap of $6.36 billion, a PE ratio of 71.31 and a beta of 1.39. The company has a 50 day moving average of $39.80 and a 200-day moving average of $42.00. Cognex Co. has a 1-year low of $34.79 and a 1-year high of $53.13.

Cognex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is currently 61.54%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Needham & Company LLC lowered their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. 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 report on Wednesday, October 16th. Finally, Truist Financial downgraded shares of 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 report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.91.

Cognex Company Profile

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.