Intech Investment Management LLC Increases Holdings in Cognex Co. (NASDAQ:CGNX)

Intech Investment Management LLC boosted its stake in Cognex Co. (NASDAQ:CGNX) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,221 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,767 shares during the period. Intech Investment Management LLC’s holdings in Cognex were worth $1,371,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares during the period. SBI Securities Co. Ltd. purchased a new position in Cognex in the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. increased its stake in Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 295 shares during the period. Truvestments Capital LLC purchased a new position in Cognex in the 3rd quarter worth approximately $36,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in Cognex by 129.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 569 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Trading Down 0.7 %

Cognex stock opened at $30.92 on Friday. The business’s fifty day simple moving average is $35.61 and its two-hundred day simple moving average is $37.77. Cognex Co. has a 12 month low of $30.04 and a 12 month high of $53.13. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 50.69 and a beta of 1.43.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. On average, equities research analysts predict that Cognex Co. will post 0.61 EPS for the current year.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, February 27th. Cognex’s dividend payout ratio (DPR) is presently 52.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CGNX shares. Robert W. Baird decreased their price target on Cognex from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their target price on Cognex from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Hsbc Global Res cut Cognex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Stephens reissued an “overweight” rating and set a $55.00 target price on shares of Cognex in a research note on Wednesday, March 12th. Finally, Needham & Company LLC reduced their target price on Cognex from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.83.

Insider Activity at Cognex

In other Cognex news, EVP Carl Gerst sold 6,803 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the completion of the sale, the executive vice president now owns 4,566 shares in the company, valued at $149,445.18. This represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Cognex 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.