Lmcg Investments LLC Has $1.86 Million Position in Cognex Co. (NASDAQ:CGNX)

Lmcg Investments LLC decreased its stake in Cognex Co. (NASDAQ:CGNX) by 36.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,885 shares of the scientific and technical instruments company’s stock after selling 29,735 shares during the period. Lmcg Investments LLC’s holdings in Cognex were worth $1,861,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Cognex in the third quarter valued at approximately $25,000. Advisors Asset Management Inc. lifted its position in shares of Cognex by 123.1% in the 3rd 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 period. Truvestments Capital LLC bought a new stake in shares of Cognex in the 3rd quarter valued at $36,000. Clean Yield Group increased its position in shares of Cognex by 1,686.7% during the fourth quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 1,012 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Cognex during the third quarter worth $40,000. 88.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Sun sold 26,000 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CGNX. Truist Financial upped their price target on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Needham & Company LLC cut their target price on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a report on Friday, December 20th. Stephens restated an “overweight” rating and set a $55.00 price target on shares of Cognex in a report on Thursday, January 2nd. Finally, Citigroup lowered their price objective on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cognex has an average rating of “Moderate Buy” and an average price target of $47.92.

Cognex Trading Up 3.2 %

Cognex stock opened at $41.02 on Wednesday. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 78.89 and a beta of 1.40. The firm’s fifty day moving average price is $38.15 and its two-hundred day moving average price is $40.40. Cognex Co. has a 1-year low of $34.79 and a 1-year high of $53.13.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s payout ratio 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.