Analysts Set Cognex Co. (NASDAQ:CGNX) PT at $47.91

Cognex Co. (NASDAQ:CGNX) has received a consensus rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.91.

A number of equities research analysts have recently issued reports on the company. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. DA Davidson dropped their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Robert W. Baird decreased their target price on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Truist Financial lowered shares of Cognex from a “buy” rating to a “hold” rating and lowered their price target for the company from $46.00 to $43.00 in a report on Tuesday, November 5th. Finally, Needham & Company LLC decreased their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 1st.

Insider Buying and Selling at Cognex

In related news, Director Anthony Sun sold 26,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the sale, the director now owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This represents a 49.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis Fehr bought 6,570 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at $249,922.80. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Cognex

Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in Cognex during the 3rd quarter worth $25,000. Advisors Asset Management Inc. boosted its holdings in shares of Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 394 shares during the period. Truvestments Capital LLC bought a new position in shares of Cognex during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB bought a new stake in Cognex in the 3rd quarter valued at about $40,000. Finally, GAMMA Investing LLC boosted its stake in Cognex by 276.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 798 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Trading Down 3.1 %

NASDAQ:CGNX opened at $40.24 on Wednesday. The firm’s fifty day simple moving average is $40.03 and its 200 day simple moving average is $42.85. Cognex has a twelve month low of $34.79 and a twelve month high of $53.13. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 77.38 and a beta of 1.40.

Cognex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 14th. Cognex’s dividend payout ratio (DPR) is 61.54%.

Cognex Company Profile

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.