Cognex Co. (NASDAQ:CGNX) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in Cognex Co. (NASDAQ:CGNX) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,732 shares of the scientific and technical instruments company’s stock after acquiring an additional 457 shares during the quarter. First Horizon Advisors Inc.’s holdings in Cognex were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. grew its stake 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 last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cognex during the third quarter worth approximately $4,545,000. Premier Fund Managers Ltd grew its position in Cognex by 255.1% in the third quarter. Premier Fund Managers Ltd now owns 24,854 shares of the scientific and technical instruments company’s stock worth $1,001,000 after buying an additional 17,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cognex in the third quarter valued at $1,910,000. Finally, Quest Partners LLC acquired a new stake in shares of Cognex during the 3rd quarter valued at $336,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cognex

In other news, CFO Dennis Fehr purchased 6,570 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $38.04 per share, with a total value of $249,922.80. Following the purchase, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CGNX. Needham & Company LLC decreased their target price on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Robert W. Baird decreased 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. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.91.

Cognex Stock Up 3.8 %

CGNX stock opened at $40.67 on Friday. The company has a 50 day moving average of $39.97 and a two-hundred day moving average of $42.93. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 78.21 and a beta of 1.40. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

Cognex Increases Dividend

The company 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. This is a boost from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. Cognex’s dividend payout ratio (DPR) is presently 61.54%.

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.