Hilton Capital Management LLC purchased a new position in Cognex Co. (NASDAQ:CGNX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the scientific and technical instruments company’s stock, valued at approximately $306,000.
Several other institutional investors also recently bought and sold shares of CGNX. Glenmede Trust Co. NA boosted its stake in Cognex by 100.0% during the 4th quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 915 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Cognex during the 3rd quarter valued at $214,000. Coldstream Capital Management Inc. purchased a new stake in Cognex during the 3rd quarter valued at $203,000. Parallel Advisors LLC boosted its stake in Cognex by 100.1% during the 4th quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 942 shares during the last quarter. Finally, Wealthsource Partners LLC purchased a new stake in Cognex during the 3rd quarter valued at $212,000. Institutional investors own 81.95% of the company’s stock.
In other news, Director Anthony Sun sold 10,000 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the transaction, the director now directly owns 294,262 shares of the company’s stock, valued at approximately $16,622,860.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is owned by corporate insiders.
Several analysts have commented on the company. 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 “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Deutsche Bank set a $80.00 price target on Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.83.
Cognex stock opened at $55.76 on Thursday. The firm has a market capitalization of $9,705.98, a price-to-earnings ratio of 56.90 and a beta of 1.54. Cognex Co. has a twelve month low of $39.01 and a twelve month high of $72.99.
Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The company’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. equities analysts anticipate that Cognex Co. will post 1.4 EPS for the current year.
Cognex declared that its Board of Directors has approved a share buyback program on Thursday, February 15th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.32%. Cognex’s payout ratio is 18.37%.
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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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