Quadrature Capital Ltd acquired a new position in Cognex Co. (NASDAQ:CGNX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 134,941 shares of the scientific and technical instruments company’s stock, valued at approximately $8,253,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock worth $125,000 after buying an additional 963 shares during the period. Cerebellum GP LLC bought a new position in shares of Cognex in the fourth quarter worth about $126,000. Strs Ohio bought a new position in shares of Cognex in the fourth quarter worth about $133,000. Clear Perspective Advisors LLC raised its stake in shares of Cognex by 100.0% in the fourth quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock worth $135,000 after buying an additional 1,100 shares during the period. Finally, Huntington National Bank raised its stake in shares of Cognex by 67.3% in the third 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 period. 64.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cognex Co. (CGNX) opened at $54.52 on Friday. The stock has a market capitalization of $9,440.00, a P/E ratio of 55.63 and a beta of 1.44. Cognex Co. has a 12 month low of $37.78 and a 12 month high of $72.99.
Cognex (NASDAQ:CGNX) last issued its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The company had revenue of $180.37 million for the quarter, compared to the consensus estimate of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. equities analysts anticipate that Cognex Co. will post 1.4 earnings per share for the current year.
Cognex announced that its board has initiated a share buyback program on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 0.33%. The ex-dividend date is Thursday, March 1st. Cognex’s dividend payout ratio (DPR) is presently 18.37%.
In related news, Director Patrick Alias sold 5,000 shares of Cognex stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.
CGNX has been the topic of several recent research reports. Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub downgraded Cognex from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. downgraded Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price on the stock. in a research note on Wednesday, November 8th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Robert W. Baird lifted their target price on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $66.83.
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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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