Eagle Asset Management Inc. Acquires 13,159 Shares of Cognex Co. (NASDAQ:CGNX)

Eagle Asset Management Inc. boosted its holdings in Cognex Co. (NASDAQ:CGNXGet Rating) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,433,145 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,159 shares during the period. Cognex comprises about 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 18th largest holding. Eagle Asset Management Inc. owned 1.38% of Cognex worth $189,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Spire Wealth Management grew its position in shares of Cognex by 81.0% in the 4th quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. UMB Bank N A MO bought a new stake in shares of Cognex during the 4th quarter worth about $31,000. Huntington National Bank boosted its holdings in shares of Cognex by 137.0% during the 4th quarter. Huntington National Bank now owns 448 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 259 shares during the period. Sageworth Trust Co of South Dakota bought a new stake in shares of Cognex during the 4th quarter worth about $36,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Cognex during the 4th quarter worth about $43,000. 88.85% of the stock is owned by institutional investors.

In other Cognex news, Director Dianne M. Parrotte bought 3,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $46.00 per share, for a total transaction of $138,000.00. Following the acquisition, the director now owns 3,608 shares in the company, valued at approximately $165,968. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

Several brokerages have weighed in on CGNX. JPMorgan Chase & Co. upgraded shares of Cognex from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $68.00 in a research note on Friday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Cognex in a research report on Friday, February 18th. Daiwa Capital Markets upgraded shares of Cognex from a “neutral” rating to a “buy” rating and dropped their target price for the company from $81.00 to $75.00 in a research report on Tuesday, January 25th. DA Davidson dropped their target price on shares of Cognex from $85.00 to $80.00 in a research report on Friday, February 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Cognex from $77.00 to $67.00 and set a “sell” rating for the company in a research report on Monday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.82.

Shares of CGNX stock traded down $0.24 during trading hours on Thursday, hitting $47.32. 2,258,033 shares of the company’s stock were exchanged, compared to its average volume of 945,753. Cognex Co. has a 12-month low of $45.66 and a 12-month high of $92.17. The business’s 50 day simple moving average is $67.52 and its 200-day simple moving average is $71.13. The company has a market capitalization of $8.22 billion, a PE ratio of 30.53 and a beta of 1.63.

Cognex (NASDAQ:CGNXGet Rating) last issued its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.34 by $0.08. Cognex had a net margin of 25.67% and a return on equity of 19.48%. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $277.23 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that Cognex Co. will post 1.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, May 19th. Cognex’s dividend payout ratio (DPR) is presently 16.77%.

Cognex Company 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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