Cognex Co. (CGNX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Cognex Co. (NASDAQ:CGNX) by 67.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,503 shares of the scientific and technical instruments company’s stock after selling 49,580 shares during the period. SG Americas Securities LLC’s holdings in Cognex were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CGNX. Bank of Montreal Can acquired a new stake in shares of Cognex during the second quarter worth $1,370,000. Alps Advisors Inc. raised its holdings in shares of Cognex by 21.3% during the second quarter. Alps Advisors Inc. now owns 13,328 shares of the scientific and technical instruments company’s stock worth $815,000 after acquiring an additional 2,344 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Cognex by 84.1% during the second quarter. Commonwealth Equity Services LLC now owns 35,137 shares of the scientific and technical instruments company’s stock worth $1,567,000 after acquiring an additional 16,055 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Cognex by 3.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 134,055 shares of the scientific and technical instruments company’s stock worth $5,980,000 after acquiring an additional 4,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Cognex by 4.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 555,493 shares of the scientific and technical instruments company’s stock worth $24,781,000 after acquiring an additional 25,057 shares during the period. 91.02% of the stock is currently owned by institutional investors.

In other news, Director Jerry A. Schneider sold 5,000 shares of Cognex stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $54.29, for a total value of $271,450.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $380,030. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $56.04, for a total transaction of $560,400.00. Following the completion of the transaction, the director now directly owns 264,262 shares of the company’s stock, valued at approximately $14,809,242.48. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

CGNX has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Northcoast Research downgraded shares of Cognex from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Friday, August 24th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on shares of Cognex in a research report on Monday, August 20th. They issued an “equal weight” rating and a $57.00 target price for the company. Finally, Needham & Company LLC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $51.76.

Cognex stock opened at $41.40 on Friday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 2.44 and a beta of 1.90. Cognex Co. has a 1-year low of $36.16 and a 1-year high of $70.00.

Cognex (NASDAQ:CGNX) last released its earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $232.22 million during the quarter, compared to the consensus estimate of $227.15 million. Cognex had a net margin of 18.52% and a return on equity of 20.88%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. On average, equities analysts forecast that Cognex Co. will post 1.2 EPS for the current year.

Cognex declared that its Board of Directors has approved a share repurchase plan on Monday, October 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, November 15th. This is an increase from Cognex’s previous quarterly dividend of $0.05. Cognex’s dividend payout ratio (DPR) is 13.79%.

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About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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