Great West Life Assurance Co. Can increased its stake in shares of Cognex Co. (NASDAQ:CGNX) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,274 shares of the scientific and technical instruments company’s stock after buying an additional 10,606 shares during the quarter. Great West Life Assurance Co. Can owned about 0.09% of Cognex worth $5,389,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ruggie Capital Group bought a new position in shares of Cognex in the fourth quarter worth $27,000. CWM LLC grew its stake in shares of Cognex by 1,952.6% in the fourth quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 742 shares in the last quarter. Howe & Rusling Inc. bought a new position in shares of Cognex in the fourth quarter worth $39,000. Bremer Trust National Association bought a new position in shares of Cognex in the fourth quarter worth $44,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Cognex by 3,621.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock worth $89,000 after purchasing an additional 3,330,340 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.
CGNX opened at $54.35 on Friday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 2.79 and a beta of 2.01. Cognex Co. has a 12-month low of $34.88 and a 12-month high of $59.18.
Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. The firm had revenue of $193.29 million for the quarter, compared to analyst estimates of $184.82 million. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. Equities research analysts forecast that Cognex Co. will post 1.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.05 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. Cognex’s dividend payout ratio is currently 16.13%.
In other Cognex news, Director Theodor Krantz sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the sale, the director now owns 52,500 shares in the company, valued at approximately $2,791,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on the company. ValuEngine raised Cognex from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (up previously from $47.00) on shares of Cognex in a research note on Tuesday, February 12th. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research cut Cognex from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Berenberg Bank began coverage on Cognex in a research note on Monday, November 19th. They set a “buy” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.28.
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.
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