New York State Teachers Retirement System decreased its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,074 shares of the scientific and technical instruments company’s stock after selling 18,061 shares during the period. New York State Teachers Retirement System owned approximately 0.15% of Cognex worth $12,047,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CGNX. NEXT Financial Group Inc increased its holdings in shares of Cognex by 1,081.8% in the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 476 shares during the period. Spectrum Asset Management Inc. NB CA purchased a new position in Cognex during the 2nd quarter valued at about $1,042,000. IFM Investors Pty Ltd increased its holdings in Cognex by 39.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,049 shares of the scientific and technical instruments company’s stock valued at $674,000 after purchasing an additional 4,008 shares during the period. Nisa Investment Advisors LLC increased its holdings in Cognex by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,270 shares of the scientific and technical instruments company’s stock valued at $1,596,000 after purchasing an additional 270 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in Cognex during the 2nd quarter valued at about $1,273,000. 94.53% of the stock is owned by institutional investors.
In other Cognex news, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at approximately $612,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.
Cognex (NASDAQ:CGNX) last posted its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm had revenue of $199.00 million for the quarter, compared to the consensus estimate of $194.65 million. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts forecast that Cognex Co. will post 0.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.43%. Cognex’s dividend payout ratio (DPR) is 16.13%.
CGNX has been the topic of a number of research analyst reports. Sanford C. Bernstein downgraded Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Gordon Haskett initiated coverage on Cognex in a report on Wednesday, April 17th. They set a “hold” rating and a $54.00 price target on the stock. Needham & Company LLC boosted their price target on Ceridian HCM to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Cognex currently has a consensus rating of “Hold” and an average target price of $50.36.
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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