Alps Advisors Inc. Buys 3,202 Shares of Cognex Co. (NASDAQ:CGNX)

Alps Advisors Inc. boosted its stake in shares of Cognex Co. (NASDAQ:CGNXFree Report) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,114 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,202 shares during the quarter. Alps Advisors Inc.’s holdings in Cognex were worth $981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis bought a new position in Cognex during the second quarter worth $26,000. Caisse DE Depot ET Placement DU Quebec bought a new position in Cognex during the first quarter worth $25,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Cognex by 71.1% during the third quarter. Itau Unibanco Holding S.A. now owns 804 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 334 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Cognex during the fourth quarter worth $44,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Cognex during the second quarter worth $67,000. 89.86% of the stock is owned by institutional investors.

Insider Transactions at Cognex

In related news, EVP Carl Gerst sold 6,782 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $40.54, for a total value of $274,942.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Separately, downgraded Cognex from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.56.

Get Our Latest Stock Report on Cognex

Cognex Trading Down 0.2 %

Shares of NASDAQ CGNX opened at $40.92 on Friday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 62.00 and a beta of 1.48. Cognex Co. has a 12 month low of $34.28 and a 12 month high of $59.51. The stock has a 50-day moving average price of $38.31 and a two-hundred day moving average price of $39.69.

Cognex (NASDAQ:CGNXGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $196.70 million for the quarter, compared to analysts’ expectations of $189.16 million. Cognex had a return on equity of 6.86% and a net margin of 13.52%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that Cognex Co. will post 0.47 earnings per share for the current year.

Cognex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, February 28th. Cognex’s dividend payout ratio (DPR) is currently 45.46%.

Cognex Company 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.

Further Reading

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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