AIA Group Ltd Increases Stake in Cognex Co. (NASDAQ:CGNX)

AIA Group Ltd grew its position in Cognex Co. (NASDAQ:CGNXFree Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,256 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,801 shares during the quarter. AIA Group Ltd’s holdings in Cognex were worth $1,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis bought a new position in shares of Cognex in the second quarter worth about $26,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cognex in the first quarter worth about $25,000. Nemes Rush Group LLC bought a new position in shares of Cognex in the second quarter worth about $36,000. Altshuler Shaham Ltd bought a new position in shares of Cognex in the fourth quarter worth about $44,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Cognex in the second quarter worth about $67,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $37.22 on Thursday. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 40.90 and a beta of 1.52. Cognex Co. has a 12 month low of $34.28 and a 12 month high of $59.51. The firm’s 50 day simple moving average is $38.83 and its 200-day simple moving average is $43.39.

Cognex (NASDAQ:CGNXGet Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Cognex had a net margin of 17.87% and a return on equity of 8.90%. The business had revenue of $197.24 million for the quarter, compared to analysts’ expectations of $190.30 million. Analysts anticipate that Cognex Co. will post 0.44 earnings per share for the current fiscal year.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.075 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.30 dividend on an annualized basis and a yield of 0.81%. This is a boost from Cognex’s previous quarterly dividend of $0.07. Cognex’s dividend payout ratio (DPR) is currently 32.97%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CGNX. Needham & Company LLC dropped their target price on shares of Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. BNP Paribas started coverage on shares of Cognex in a report on Thursday, October 5th. They issued an “outperform” rating and a $55.00 price target on the stock. Raymond James lowered their price target on shares of Cognex from $65.00 to $60.00 and set a “strong-buy” rating on the stock in a report on Monday, November 6th. Stephens lowered their price target on shares of Cognex from $55.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Cognex from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.50.

View Our Latest Research Report on CGNX

Cognex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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