Raymond James Financial Services Advisors Inc. Trims Position in Cognex Co. (CGNX)

Raymond James Financial Services Advisors Inc. decreased its holdings in Cognex Co. (NASDAQ:CGNX) by 68.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,096 shares of the scientific and technical instruments company’s stock after selling 8,936 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cognex were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Pictet Asset Management Ltd. raised its position in Cognex by 7.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 545,826 shares of the scientific and technical instruments company’s stock worth $60,194,000 after buying an additional 38,121 shares during the last quarter. Huntington National Bank raised its position in Cognex by 67.3% during the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after buying an additional 550 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Cognex by 29.4% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 3,010 shares of the scientific and technical instruments company’s stock worth $349,000 after buying an additional 683 shares during the last quarter. APG Asset Management N.V. purchased a new position in Cognex during the 3rd quarter worth $5,569,000. Finally, LS Investment Advisors LLC raised its position in Cognex by 5.1% during the 3rd quarter. LS Investment Advisors LLC now owns 8,996 shares of the scientific and technical instruments company’s stock worth $992,000 after buying an additional 439 shares during the last quarter. Institutional investors own 84.25% of the company’s stock.

CGNX has been the subject of a number of analyst reports. J P Morgan Chase & Co downgraded shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective for the company. in a research report on Wednesday, November 8th. Canaccord Genuity upped their price objective on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Wolfe Research upgraded shares of Cognex from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Cognex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Robert W. Baird upped their price objective on shares of Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.86.

In other news, Director Patrick Alias sold 5,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $111.31, for a total value of $556,550.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $556,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodor Krantz sold 15,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The disclosure for this sale can be found here. Insiders sold a total of 148,750 shares of company stock valued at $19,097,525 in the last quarter. Insiders own 5.60% of the company’s stock.

Cognex Co. (NASDAQ:CGNX) opened at $61.99 on Thursday. The stock has a market cap of $10,890.86, a PE ratio of 46.41 and a beta of 1.50. Cognex Co. has a twelve month low of $29.14 and a twelve month high of $72.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The business had revenue of $259.74 million during the quarter, compared to the consensus estimate of $255.95 million. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business’s revenue was up 75.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. analysts expect that Cognex Co. will post 1.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a $0.045 dividend. The ex-dividend date was Thursday, November 16th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.29%. Cognex’s dividend payout ratio is presently 13.28%.

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Cognex 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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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