TD Asset Management Inc Has $35.61 Million Stock Position in Cognex Co. (NASDAQ:CGNX)

TD Asset Management Inc lowered its stake in Cognex Co. (NASDAQ:CGNX) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,482 shares of the scientific and technical instruments company’s stock after selling 85,792 shares during the quarter. TD Asset Management Inc owned approximately 0.44% of Cognex worth $35,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Cognex by 986.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock worth $68,679,000 after acquiring an additional 1,469,961 shares in the last quarter. Norges Bank acquired a new position in Cognex in the 4th quarter worth approximately $58,641,000. Swedbank AB purchased a new position in Cognex during the 1st quarter worth approximately $58,502,000. William Blair Investment Management LLC raised its stake in Cognex by 41.4% during the 1st quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company’s stock valued at $157,659,000 after purchasing an additional 1,088,095 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Cognex by 29.0% in the first quarter. Nordea Investment Management AB now owns 2,663,900 shares of the scientific and technical instruments company’s stock valued at $113,722,000 after purchasing an additional 598,207 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Stock Performance

Shares of NASDAQ CGNX opened at $38.23 on Friday. The business’s 50-day simple moving average is $43.76 and its 200-day simple moving average is $43.29. Cognex Co. has a 52 week low of $34.28 and a 52 week high of $53.13. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 65.91 and a beta of 1.42.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The firm had revenue of $239.00 million during the quarter, compared to analysts’ expectations of $240.33 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Cognex Co. will post 0.43 earnings per share for the current year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.30 annualized dividend and a yield of 0.78%. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Insiders Place Their Bets

In other Cognex news, Director Dianne M. Parrotte acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the purchase, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cognex news, CFO Dennis Fehr acquired 6,570 shares of Cognex 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 completion of the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at $249,922.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dianne M. Parrotte acquired 2,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the purchase, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CGNX has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. StockNews.com raised Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Vertical Research assumed coverage on shares of Cognex in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price target for the company. Truist Financial decreased their price target on shares of Cognex from $55.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird dropped their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.62.

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.