WCM Investment Management LLC Has $14.18 Million Holdings in Cognex Co. (NASDAQ:CGNX)

WCM Investment Management LLC cut its stake in Cognex Co. (NASDAQ:CGNX) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352,143 shares of the scientific and technical instruments company’s stock after selling 58,722 shares during the period. WCM Investment Management LLC owned approximately 0.21% of Cognex worth $14,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Cognex in the 3rd quarter worth $25,000. GAMMA Investing LLC lifted 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 buying an additional 798 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Cognex during the 2nd quarter worth about $55,000. Signaturefd LLC lifted its position in Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 514 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Cognex by 19.8% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after buying an additional 301 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cognex

In related news, CFO Dennis Fehr purchased 6,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price 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 approximately $249,922.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CGNX has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. DA Davidson cut their price target on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Robert W. Baird dropped their target price on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Needham & Company LLC dropped their target price on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.91.

Cognex Stock Performance

Shares of CGNX opened at $42.86 on Tuesday. Cognex Co. has a 52 week low of $34.79 and a 52 week high of $53.13. The firm has a market cap of $7.35 billion, a P/E ratio of 82.42 and a beta of 1.40. The firm’s 50-day simple moving average is $39.62 and its 200 day simple moving average is $43.06.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a $0.08 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is 57.69%.

Cognex 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.