Suntrust Banks Inc. lessened its position in Cognex Co. (NASDAQ:CGNX) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,131 shares of the scientific and technical instruments company’s stock after selling 4,892 shares during the quarter. Suntrust Banks Inc.’s holdings in Cognex were worth $2,944,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Cognex by 3,621.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock valued at $89,000 after buying an additional 3,330,340 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Cognex by 2,019.9% in the third quarter. Federated Investors Inc. PA now owns 1,484,085 shares of the scientific and technical instruments company’s stock worth $82,842,000 after purchasing an additional 1,414,078 shares during the last quarter. Fundsmith LLP bought a new stake in shares of Cognex in the fourth quarter worth about $39,953,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Cognex by 5,315.2% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 880,401 shares of the scientific and technical instruments company’s stock worth $34,045,000 after purchasing an additional 864,143 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in shares of Cognex by 12.0% in the fourth quarter. Eagle Asset Management Inc. now owns 3,679,715 shares of the scientific and technical instruments company’s stock worth $142,294,000 after purchasing an additional 395,461 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Theodor Krantz sold 30,000 shares of Cognex stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the completion of the transaction, the director now directly owns 52,500 shares in the company, valued at $2,791,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.
Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Cognex had a net margin of 27.19% and a return on equity of 19.75%. The firm had revenue of $193.29 million during the quarter, compared to analyst estimates of $184.82 million. During the same period last year, the business earned ($0.16) earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Cognex Co. will post 1.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Cognex’s payout ratio is 16.13%.
Several analysts recently issued reports on the company. BidaskClub cut Cognex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. ValuEngine upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective (up from $47.00) on shares of Cognex in a report on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Cognex currently has an average rating of “Hold” and a consensus price target of $49.28.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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