Disciplined Growth Investors Inc. MN boosted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 97.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 837,649 shares of the scientific and technical instruments company’s stock after purchasing an additional 414,079 shares during the period. Disciplined Growth Investors Inc. MN owned about 0.48% of Cognex worth $51,231,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in Cognex during the third quarter valued at $8,308,000. DekaBank Deutsche Girozentrale purchased a new position in Cognex during the third quarter valued at $841,000. Eagle Boston Investment Management Inc. purchased a new position in Cognex during the third quarter valued at $265,000. WINTON GROUP Ltd purchased a new position in Cognex during the third quarter valued at $2,272,000. Finally, Advisor Group Inc. lifted its position in Cognex by 40.9% during the third quarter. Advisor Group Inc. now owns 10,393 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after purchasing an additional 3,017 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.
In other news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the sale, the director now directly owns 294,262 shares of the company’s stock, valued at $16,622,860.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business had revenue of $180.37 million for the quarter, compared to the consensus estimate of $178.75 million. During the same period in the previous year, the business earned $0.20 earnings per share. The business’s revenue was up 39.5% on a year-over-year basis. analysts forecast that Cognex Co. will post 1.4 EPS for the current fiscal year.
Cognex announced that its Board of Directors has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a $0.045 dividend. The ex-dividend date was Thursday, March 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.33%. Cognex’s dividend payout ratio (DPR) is 18.37%.
CGNX has been the topic of several analyst reports. BidaskClub downgraded Cognex from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank set a $80.00 price objective on Cognex and gave the company a “buy” rating in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Cognex currently has an average rating of “Hold” and an average price target of $66.83.
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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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