Insider Selling: Cognex Corporation (CGNX) CEO Sells 100,000 Shares of Stock
Cognex Corporation (NASDAQ:CGNX) CEO Robert Willett sold 100,000 shares of Cognex Corporation stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total value of $12,719,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $12,719,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Robert Willett also recently made the following trade(s):
- On Friday, August 25th, Robert Willett sold 8,241 shares of Cognex Corporation stock. The shares were sold at an average price of $103.09, for a total value of $849,564.69.
- On Tuesday, August 15th, Robert Willett sold 66,759 shares of Cognex Corporation stock. The shares were sold at an average price of $104.58, for a total value of $6,981,656.22.
- On Tuesday, August 8th, Robert Willett sold 25,000 shares of Cognex Corporation stock. The shares were sold at an average price of $103.37, for a total value of $2,584,250.00.
Cognex Corporation (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. The business had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $255.95 million. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The business’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a yield of 0.28%. Cognex Corporation’s dividend payout ratio (DPR) is currently 12.55%.
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Several research analysts recently issued reports on CGNX shares. Cowen and Company reaffirmed a “buy” rating and set a $100.00 target price on shares of Cognex Corporation in a research report on Tuesday, July 11th. Wolfe Research raised Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Zacks Investment Research cut Cognex Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Robert W. Baird lifted their price target on Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $99.50.
Large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. bought a new stake in Cognex Corporation during the second quarter valued at about $102,000. Huntington National Bank raised its holdings in Cognex Corporation by 67.3% during the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after acquiring an additional 550 shares during the period. Meeder Asset Management Inc. bought a new stake in Cognex Corporation during the second quarter valued at about $135,000. Empirical Finance LLC bought a new stake in Cognex Corporation during the third quarter valued at about $209,000. Finally, IFP Advisors Inc raised its holdings in Cognex Corporation by 46.8% during the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after acquiring an additional 612 shares during the period. 86.45% of the stock is currently owned by institutional investors and hedge funds.
Cognex Corporation Company Profile
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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