Twin Tree Management LP Has $1 Million Holdings in Cognex Co. (CGNX)

Twin Tree Management LP raised its position in shares of Cognex Co. (NASDAQ:CGNX) by 117.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,920 shares of the scientific and technical instruments company’s stock after acquiring an additional 9,686 shares during the period. Twin Tree Management LP’s holdings in Cognex were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CGNX. BlackRock Inc. lifted its position in shares of Cognex by 6.3% during the second quarter. BlackRock Inc. now owns 17,769,276 shares of the scientific and technical instruments company’s stock valued at $792,687,000 after buying an additional 1,060,494 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cognex by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 8,529,267 shares of the scientific and technical instruments company’s stock valued at $476,104,000 after buying an additional 268,565 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cognex by 2.8% during the third quarter. Janus Henderson Group PLC now owns 4,931,458 shares of the scientific and technical instruments company’s stock valued at $275,296,000 after buying an additional 134,103 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Cognex by 41.4% during the second quarter. Eagle Asset Management Inc. now owns 3,345,230 shares of the scientific and technical instruments company’s stock valued at $149,230,000 after buying an additional 980,194 shares during the last quarter. Finally, Joho Capital LLC lifted its position in shares of Cognex by 24.1% during the second quarter. Joho Capital LLC now owns 3,069,024 shares of the scientific and technical instruments company’s stock valued at $136,909,000 after buying an additional 595,358 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Shares of NASDAQ CGNX opened at $40.89 on Thursday. The company has a market cap of $7.00 billion, a PE ratio of 28.20, a PEG ratio of 2.26 and a beta of 1.90. Cognex Co. has a 12 month low of $36.16 and a 12 month high of $72.99.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Cognex’s previous quarterly dividend of $0.05. Cognex’s dividend payout ratio (DPR) is presently 13.79%.

Cognex declared that its Board of Directors has authorized a share repurchase plan on Monday, October 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

CGNX has been the subject of several analyst reports. BidaskClub lowered shares of Cognex from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Morgan Stanley set a $52.00 price target on shares of Cognex and gave the company a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Daiwa Capital Markets set a $49.00 price target on shares of Cognex and gave the company a “buy” rating in a research report on Thursday, November 1st. Finally, ValuEngine raised shares of Cognex from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.76.

In other Cognex news, Director Jerry A. Schneider sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total value of $271,450.00. Following the transaction, the director now owns 7,000 shares in the company, valued at approximately $380,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $56.04, for a total value of $560,400.00. Following the completion of the transaction, the director now owns 264,262 shares in the company, 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.

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Cognex Profile

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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