Cognex Co. (NASDAQ:CGNX) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in Cognex Co. (NASDAQ:CGNX) by 95.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,918 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,090 shares during the period. Raymond James Trust N.A.’s holdings in Cognex were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Cognex in the 3rd quarter valued at $25,000. Advisors Asset Management Inc. lifted its stake in shares of Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 798 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Cognex in the 2nd quarter valued at $55,000. Finally, Signaturefd LLC lifted its stake in shares of Cognex by 43.2% in the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock valued at $80,000 after purchasing an additional 514 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CGNX has been the topic of several research reports. Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $46.00 to $43.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Needham & Company LLC decreased their target price on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, DA Davidson decreased their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.91.

Insider Activity

In other news, CFO Dennis Fehr purchased 6,570 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at approximately $249,922.80. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Cognex Price Performance

CGNX stock opened at $40.67 on Monday. The firm has a market capitalization of $6.98 billion, a P/E ratio of 78.21 and a beta of 1.40. The business’s 50-day moving average is $39.97 and its two-hundred day moving average is $42.91. Cognex Co. has a 1 year low of $34.79 and a 1 year high of $53.13.

Cognex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is presently 61.54%.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.