Cognex Co. (NASDAQ:CGNX) Receives Average Rating of “Hold” from Analysts

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

CGNX has been the topic of a number of analyst reports. Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and reduced their price target for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their target price on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Robert W. Baird lowered 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.

Cognex Trading Up 3.8 %

Cognex stock opened at $40.67 on Wednesday. The firm has a market capitalization of $6.98 billion, a P/E ratio of 78.21 and a beta of 1.40. The stock’s fifty day simple moving average is $39.97 and its 200-day simple moving average is $42.91. Cognex has a twelve month low of $34.79 and a twelve month high of $53.13.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.08 per share. This is a positive change from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. Cognex’s dividend payout ratio (DPR) is presently 61.54%.

Insider Transactions at Cognex

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of Cognex

Large investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in Cognex during the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. raised its stake 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 worth $29,000 after purchasing an additional 394 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Cognex during the third quarter worth $36,000. GAMMA Investing LLC grew its position in Cognex by 276.1% in 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 buying an additional 798 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Cognex in the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.