Franklin Resources Inc. lifted its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 995,926 shares of the scientific and technical instruments company’s stock after purchasing an additional 46,718 shares during the quarter. Franklin Resources Inc. owned 1.15% of Cognex Corporation worth $84,554,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGNX. Bronfman E.L. Rothschild L.P. boosted its stake in Cognex Corporation by 2.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock valued at $170,000 after buying an additional 47 shares in the last quarter. Sawtooth Solutions LLC boosted its stake in Cognex Corporation by 1.3% in the second quarter. Sawtooth Solutions LLC now owns 4,009 shares of the scientific and technical instruments company’s stock valued at $340,000 after buying an additional 51 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Cognex Corporation by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,645 shares of the scientific and technical instruments company’s stock valued at $1,074,000 after buying an additional 75 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Cognex Corporation by 3.4% in the first quarter. Flinton Capital Management LLC now owns 2,400 shares of the scientific and technical instruments company’s stock valued at $201,000 after buying an additional 80 shares in the last quarter. Finally, BB&T Corp boosted its stake in Cognex Corporation by 2.0% in the second quarter. BB&T Corp now owns 4,661 shares of the scientific and technical instruments company’s stock valued at $395,000 after buying an additional 92 shares in the last quarter. 87.30% of the stock is currently owned by institutional investors.
Shares of Cognex Corporation (NASDAQ:CGNX) opened at 111.58 on Wednesday. The company has a 50-day moving average price of $102.63 and a 200 day moving average price of $90.69. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 50.97 and a beta of 1.40. Cognex Corporation has a 1-year low of $47.86 and a 1-year high of $112.17.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The business had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts predict that Cognex Corporation will post $2.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Wednesday, August 16th. Cognex Corporation’s payout ratio is 15.60%.
Several analysts recently weighed in on the company. Wolfe Research assumed coverage on Cognex Corporation in a research note on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Cognex Corporation in a research note on Tuesday, July 11th. Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, BidaskClub lowered Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $82.75.
In other news, Director Bruce Robinson J sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total value of $745,500.00. Following the completion of the transaction, the director now directly owns 5,625 shares in the company, valued at approximately $599,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total value of $513,350.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at $616,020. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,750 shares of company stock valued at $12,686,176. 5.60% of the stock is owned by company insiders.
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Cognex Corporation 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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