Flinton Capital Management LLC lifted its position in shares of Cognex Co. (NASDAQ:CGNX) by 142.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,104 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,528 shares during the period. Flinton Capital Management LLC’s holdings in Cognex were worth $679,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake 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 buying an additional 942 shares in the last quarter. YorkBridge Wealth Partners LLC raised its stake in Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock worth $125,000 after buying an additional 963 shares in the last quarter. Cerebellum GP LLC bought a new position in Cognex in the fourth quarter worth about $126,000. Strs Ohio bought a new position in Cognex in the fourth quarter worth about $133,000. Finally, Clear Perspective Advisors LLC raised its stake in Cognex by 100.0% in the fourth quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock worth $135,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.
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 shares were sold at an average price of $56.49, for a total transaction of $564,900.00. Following the completion of the transaction, 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 through the SEC website. 5.60% of the stock is currently owned by company insiders.
Cognex (NASDAQ:CGNX) last announced 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. Cognex had a net margin of 23.69% and a return on equity of 24.23%. The business had revenue of $180.37 million during the quarter, compared to the consensus estimate of $178.75 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. equities analysts predict that Cognex Co. will post 1.4 earnings per share for the current fiscal year.
Cognex declared that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Thursday, March 1st. Cognex’s dividend payout ratio is 18.37%.
A number of equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Cognex from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Deutsche Bank set a $80.00 price target on shares of Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $66.83.
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Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture 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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