Cognex Co. (NASDAQ:CGNX) CTO Joerg Kuechen Sells 2,934 Shares

Cognex Co. (NASDAQ:CGNX) CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cognex Stock Up 1.1 %

Shares of CGNX stock opened at $37.47 on Tuesday. Cognex Co. has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The business has a fifty day simple moving average of $39.80 and a 200-day simple moving average of $42.00. The stock has a market cap of $6.43 billion, a P/E ratio of 72.06 and a beta of 1.39.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a $0.08 dividend. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.85%. Cognex’s dividend payout ratio (DPR) is 61.54%.

Institutional Investors Weigh In On Cognex

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in Cognex by 10.0% during the third quarter. Tidal Investments LLC now owns 33,657 shares of the scientific and technical instruments company’s stock worth $1,363,000 after purchasing an additional 3,068 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Cognex during the third quarter valued at $40,000. Sanctuary Advisors LLC purchased a new stake in shares of Cognex in the third quarter worth approximately $463,000. Virtu Financial LLC purchased a new stake in Cognex in the 3rd quarter worth approximately $790,000. Finally, TCW Group Inc. boosted its stake in shares of Cognex by 19.8% during the 3rd quarter. TCW Group Inc. now owns 583,150 shares of the scientific and technical instruments company’s stock valued at $23,618,000 after buying an additional 96,330 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial cut shares of Cognex from a “buy” rating to a “hold” rating and decreased their target price for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Needham & Company LLC lowered their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.91.

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.