KBC Group NV lifted its position in shares of Cognex Co. (NASDAQ:CGNX) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,494 shares of the scientific and technical instruments company’s stock after buying an additional 1,144 shares during the quarter. KBC Group NV’s holdings in Cognex were worth $1,896,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of CGNX. Alps Advisors Inc. raised its stake in Cognex by 33.8% in the second quarter. Alps Advisors Inc. now owns 14,700 shares of the scientific and technical instruments company’s stock valued at $656,000 after buying an additional 3,716 shares during the last quarter. Advanced Asset Management Advisors Inc purchased a new stake in Cognex in the second quarter valued at about $571,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Cognex in the second quarter valued at about $45,935,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Cognex in the second quarter valued at about $377,000. Finally, Jaffetilchin Investment Partners LLC raised its stake in Cognex by 105.8% in the second quarter. Jaffetilchin Investment Partners LLC now owns 12,337 shares of the scientific and technical instruments company’s stock valued at $550,000 after buying an additional 6,342 shares during the last quarter. 85.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of CGNX stock opened at $52.43 on Monday. The stock has a market capitalization of $9.06 billion, a PE ratio of 36.16 and a beta of 1.58. Cognex Co. has a fifty-two week low of $39.90 and a fifty-two week high of $72.99.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, July 30th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $211.26 million for the quarter, compared to analyst estimates of $204.87 million. Cognex had a return on equity of 22.95% and a net margin of 20.57%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. sell-side analysts anticipate that Cognex Co. will post 1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 17th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, August 16th. Cognex’s dividend payout ratio is presently 12.41%.
CGNX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, April 24th. Northcoast Research set a $56.00 price target on Cognex and gave the company a “buy” rating in a research note on Tuesday, July 31st. JPMorgan Chase & Co. decreased their price target on Cognex from $62.50 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Robert W. Baird reiterated a “hold” rating and issued a $48.00 price target on shares of Cognex in a research note on Tuesday, July 31st. Finally, Raymond James upgraded Cognex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.76.
In other news, Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $53.01, for a total value of $530,100.00. Following the transaction, the director now directly owns 284,262 shares of the company’s stock, valued at $15,068,728.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry A. Schneider sold 2,500 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $52.50, for a total value of $131,250.00. Following the completion of the transaction, the director now directly owns 4,500 shares in the company, valued at $236,250. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.
Cognex Co is a computer and technology company in the Electronic Equipment & Instruments industry.
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