Icon Wealth Advisors LLC Has $43,000 Stock Position in Cognex Co. (NASDAQ:CGNX)

Icon Wealth Advisors LLC lowered its stake in Cognex Co. (NASDAQ:CGNX) by 80.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,054 shares of the scientific and technical instruments company’s stock after selling 4,273 shares during the period. Icon Wealth Advisors LLC’s holdings in Cognex were worth $43,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Raymond James Trust N.A. grew its position in Cognex by 95.3% in the third quarter. Raymond James Trust N.A. now owns 30,918 shares of the scientific and technical instruments company’s stock valued at $1,252,000 after acquiring an additional 15,090 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Cognex by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,385,464 shares of the scientific and technical instruments company’s stock valued at $56,111,000 after purchasing an additional 17,701 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Cognex by 16.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 130,895 shares of the scientific and technical instruments company’s stock valued at $5,301,000 after purchasing an additional 18,404 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Cognex by 20.1% during the third quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 457 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 394 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cognex Trading Up 3.8 %

NASDAQ CGNX opened at $40.67 on Monday. The firm has a market capitalization of $6.98 billion, a P/E ratio of 78.21 and a beta of 1.40. The business has a fifty day simple moving average of $39.97 and a 200 day simple moving average of $42.91. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13.

Cognex Increases Dividend

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

Insider Activity

In other news, CFO Dennis Fehr acquired 6,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $38.04 per share, with a total value of $249,922.80. Following the acquisition, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. DA Davidson cut their price objective on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Stephens raised Cognex from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $55.00 in a research note on Wednesday, October 16th. Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $43.00 in a research note on Tuesday, November 5th. StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Robert W. Baird cut their price target on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.