6,270 Shares in Cognex Co. (NASDAQ:CGNX) Acquired by Wharton Business Group LLC

Wharton Business Group LLC purchased a new position in shares of Cognex Co. (NASDAQ:CGNXGet Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,270 shares of the scientific and technical instruments company’s stock, valued at approximately $488,000.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cognex in the fourth quarter worth approximately $115,893,000. Wellington Management Group LLP grew its holdings in shares of Cognex by 177.5% in the third quarter. Wellington Management Group LLP now owns 949,170 shares of the scientific and technical instruments company’s stock valued at $76,144,000 after acquiring an additional 607,083 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Cognex by 47.0% in the third quarter. Schroder Investment Management Group now owns 1,425,029 shares of the scientific and technical instruments company’s stock valued at $114,315,000 after acquiring an additional 455,508 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cognex by 27.8% in the third quarter. Principal Financial Group Inc. now owns 1,763,196 shares of the scientific and technical instruments company’s stock valued at $141,444,000 after acquiring an additional 383,447 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Cognex by 5.8% in the third quarter. Alliancebernstein L.P. now owns 5,312,543 shares of the scientific and technical instruments company’s stock valued at $426,172,000 after acquiring an additional 288,907 shares in the last quarter. 88.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:CGNX traded down $0.13 on Tuesday, reaching $48.99. 1,668,105 shares of the company traded hands, compared to its average volume of 907,510. The business’s 50-day simple moving average is $69.72 and its 200 day simple moving average is $72.63. Cognex Co. has a 52 week low of $47.84 and a 52 week high of $92.17. The stock has a market capitalization of $8.51 billion, a P/E ratio of 31.61 and a beta of 1.63.

Cognex (NASDAQ:CGNXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cognex had a return on equity of 19.17% and a net margin of 25.67%. The firm had revenue of $282.40 million for the quarter, compared to analysts’ expectations of $277.23 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect that Cognex Co. will post 1.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.26 annualized dividend and a dividend yield of 0.53%. Cognex’s payout ratio is presently 16.77%.

Several equities analysts have recently issued reports on CGNX shares. The Goldman Sachs Group reduced their target price on Cognex from $77.00 to $67.00 and set a “sell” rating for the company in a report on Monday, March 7th. Cowen reduced their price objective on Cognex from $95.00 to $75.00 in a report on Tuesday. JPMorgan Chase & Co. raised Cognex from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $68.00 in a report on Friday, February 18th. Morgan Stanley increased their price objective on Cognex from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. Finally, Daiwa Capital Markets upgraded Cognex from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $81.00 to $75.00 in a research report on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cognex presently has a consensus rating of “Hold” and an average price target of $79.82.

Cognex Profile (Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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