Prudential Financial Inc. increased its position in Cognex Co. (NASDAQ:CGNX) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,833 shares of the scientific and technical instruments company’s stock after buying an additional 7,190 shares during the period. Prudential Financial Inc. owned about 0.06% of Cognex worth $5,174,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Candriam Luxembourg S.C.A. boosted its holdings in Cognex by 2.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 8,859 shares of the scientific and technical instruments company’s stock worth $451,000 after buying an additional 248 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Cognex by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,270 shares of the scientific and technical instruments company’s stock valued at $1,596,000 after purchasing an additional 270 shares during the last quarter. Bellecapital International Ltd. boosted its holdings in shares of Cognex by 0.6% during the 2nd quarter. Bellecapital International Ltd. now owns 57,550 shares of the scientific and technical instruments company’s stock valued at $2,761,000 after purchasing an additional 350 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Cognex by 173.6% during the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Cognex by 2.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 16,718 shares of the scientific and technical instruments company’s stock valued at $850,000 after purchasing an additional 434 shares during the last quarter. 93.24% of the stock is owned by institutional investors.
Cognex stock traded up $0.38 during midday trading on Friday, reaching $50.43. The stock had a trading volume of 5,085 shares, compared to its average volume of 793,039. The company has a quick ratio of 7.07, a current ratio of 7.92 and a debt-to-equity ratio of 0.01. Cognex Co. has a 52-week low of $34.88 and a 52-week high of $59.18. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 3.73 and a beta of 2.08. The company has a fifty day moving average of $44.25 and a 200 day moving average of $47.41.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. Cognex had a net margin of 26.03% and a return on equity of 17.81%. The company had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.65 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts predict that Cognex Co. will post 0.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is currently 16.13%.
In related news, Director Dianne M. Parrotte sold 900 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $40,500.00. Following the sale, the director now directly owns 19,700 shares of the company’s stock, valued at approximately $886,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.
Several research analysts have commented on the stock. Goldman Sachs Group downgraded shares of Cognex from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $45.00 to $36.00 in a report on Tuesday, July 16th. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Morgan Stanley dropped their price objective on shares of Cognex from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.22.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
Recommended Story: Call Option
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX).
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.