Schwab Charles Investment Management Inc. lifted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 653,307 shares of the scientific and technical instruments company’s stock after acquiring an additional 32,552 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.38% of Cognex worth $33,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Glenmede Trust Co. NA increased its holdings in Cognex by 100.0% in the fourth quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 915 shares in the last quarter. Parallel Advisors LLC increased its holdings in Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 942 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Cognex in the fourth quarter worth approximately $134,000. Cerebellum GP LLC bought a new stake in Cognex in the fourth quarter worth approximately $126,000. Finally, Strs Ohio bought a new stake in Cognex in the fourth quarter worth approximately $133,000. Institutional investors own 84.64% of the company’s stock.
Shares of Cognex opened at $46.71 on Friday, Marketbeat Ratings reports. Cognex Co. has a 52 week low of $39.90 and a 52 week high of $72.99. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 33.40 and a beta of 1.61.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, April 30th. The scientific and technical instruments company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Cognex had a return on equity of 23.08% and a net margin of 21.56%. The firm had revenue of $169.57 million during the quarter, compared to analysts’ expectations of $170.93 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. equities research analysts expect that Cognex Co. will post 1.15 EPS for the current fiscal year.
Cognex announced that its Board of Directors has approved a share buyback plan on Thursday, February 15th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.18 dividend on an annualized basis and a yield of 0.39%. Cognex’s dividend payout ratio (DPR) is presently 12.41%.
In other Cognex news, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 294,262 shares of the company’s stock, valued at $16,622,860.38. The sale was disclosed in a legal filing 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 have weighed in on the company. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday, April 24th. Northcoast Research upgraded Cognex from a “neutral” rating to a “buy” rating in a report on Wednesday, April 4th. ValuEngine downgraded Cognex from a “sell” rating to a “strong sell” rating in a report on Tuesday. Robert W. Baird lowered their target price on Cognex from $62.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on Cognex from $62.50 to $42.00 and set a “hold” rating for the company in a report on Tuesday, May 1st. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $57.21.
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.
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