Cognex Co. (CGNX) Shares Sold by HL Financial Services LLC

HL Financial Services LLC trimmed its stake in Cognex Co. (NASDAQ:CGNX) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,615 shares of the scientific and technical instruments company’s stock after selling 11,007 shares during the period. HL Financial Services LLC owned approximately 0.07% of Cognex worth $6,323,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in shares of Cognex by 100.0% in the 4th quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 915 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Cognex by 100.1% during the 4th quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock worth $115,000 after acquiring an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in shares of Cognex by 76.9% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock worth $125,000 after acquiring an additional 963 shares during the last quarter. Clear Perspective Advisors LLC lifted its stake in shares of Cognex by 100.0% during the 4th quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock worth $135,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Cognex by 77.9% during the 4th quarter. Stephens Inc. AR now owns 3,254 shares of the scientific and technical instruments company’s stock worth $199,000 after acquiring an additional 1,425 shares during the last quarter. 82.11% of the stock is owned by institutional investors and hedge funds.

In other news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the transaction, the director now directly owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.40% of the company’s stock.

A number of equities research analysts recently issued reports on CGNX shares. Northcoast Research raised Cognex from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 4th. Zacks Investment Research raised Cognex from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, April 24th. Deutsche Bank set a $80.00 price target on Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase decreased their price target on Cognex from $62.50 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Finally, BidaskClub lowered Cognex from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.21.

Shares of Cognex opened at $46.76 on Friday, according to MarketBeat Ratings. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 34.60 and a beta of 1.61. Cognex Co. has a twelve month low of $46.88 and a twelve month high of $47.77.

Cognex (NASDAQ:CGNX) last issued its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $178.75 million. Cognex had a return on equity of 23.08% and a net margin of 21.56%. Cognex’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. equities research analysts predict that Cognex Co. will post 1.15 earnings per share for the current year.

Cognex declared that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be issued a $0.045 dividend. The ex-dividend date is Thursday, May 17th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.38%. Cognex’s dividend payout ratio is presently 12.41%.

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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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