Pathstone Holdings LLC Reduces Stock Position in Cognex Co. (NASDAQ:CGNX)

Pathstone Holdings LLC trimmed its position in Cognex Co. (NASDAQ:CGNX) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,456 shares of the scientific and technical instruments company’s stock after selling 1,114 shares during the quarter. Pathstone Holdings LLC’s holdings in Cognex were worth $2,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CGNX. Price T Rowe Associates Inc. MD raised its position in Cognex by 986.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock worth $68,679,000 after buying an additional 1,469,961 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Cognex by 88.7% in the first quarter. Tidal Investments LLC now owns 9,463 shares of the scientific and technical instruments company’s stock worth $402,000 after acquiring an additional 4,448 shares during the period. Comerica Bank lifted its position in Cognex by 6.3% during the first quarter. Comerica Bank now owns 104,389 shares of the scientific and technical instruments company’s stock valued at $4,428,000 after purchasing an additional 6,218 shares during the period. Swedbank AB purchased a new stake in Cognex in the first quarter valued at $58,502,000. Finally, GAMMA Investing LLC grew its position 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 worth $51,000 after purchasing an additional 798 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Trading Up 2.1 %

Shares of CGNX opened at $41.53 on Tuesday. The firm has a market cap of $7.12 billion, a P/E ratio of 79.87 and a beta of 1.40. The company’s 50-day moving average price is $39.97 and its 200 day moving average price is $42.89. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CGNX. The Goldman Sachs Group decreased their price objective on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Needham & Company LLC lowered their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Robert W. Baird cut their target price on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Truist Financial downgraded shares of Cognex from a “buy” rating to a “hold” rating and lowered their price target for the stock from $46.00 to $43.00 in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cognex has an average rating of “Hold” and an average target price of $47.91.

Insider Activity at Cognex

In other news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the sale, the director now directly owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dennis Fehr bought 6,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the purchase, the chief financial officer now owns 6,570 shares in the company, valued at $249,922.80. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

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.