Mirae Asset Global Investments Co. Ltd. Has $1.13 Million Holdings in Cognex Co. (NASDAQ:CGNX)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Cognex Co. (NASDAQ:CGNX) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,938 shares of the scientific and technical instruments company’s stock after selling 1,882 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cognex were worth $1,125,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new position in Cognex in the third quarter valued at approximately $283,000. Copeland Capital Management LLC lifted its stake in Cognex by 10.2% in the third quarter. Copeland Capital Management LLC now owns 1,767,426 shares of the scientific and technical instruments company’s stock valued at $71,581,000 after buying an additional 162,965 shares during the period. Raymond James & Associates lifted its stake in Cognex by 25.1% in the third quarter. Raymond James & Associates now owns 474,163 shares of the scientific and technical instruments company’s stock valued at $19,204,000 after buying an additional 95,063 shares during the period. Slow Capital Inc. increased its holdings in shares of Cognex by 13.2% during the third quarter. Slow Capital Inc. now owns 80,593 shares of the scientific and technical instruments company’s stock valued at $3,264,000 after acquiring an additional 9,415 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Cognex by 719.2% during the third quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company’s stock valued at $88,000 after acquiring an additional 1,906 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Robert W. Baird decreased their price objective on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. DA Davidson decreased their price objective on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group decreased their price target on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial decreased their price target on Cognex from $55.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.17.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $40.41 on Friday. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The business’s fifty day moving average price is $39.38 and its 200-day moving average price is $42.91. The stock has a market capitalization of $6.93 billion, a PE ratio of 77.71 and a beta of 1.41.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Cognex had a return on equity of 5.34% and a net margin of 10.10%. The firm had revenue of $234.74 million for the quarter, compared to analysts’ expectations of $229.86 million. As a group, equities analysts expect that Cognex Co. will post 0.43 EPS for the current fiscal year.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued 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 is 61.54%.

Insider Buying and Selling

In related news, Director Dianne M. Parrotte acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $38.62 per share, with a total value of $77,240.00. Following the acquisition, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Dianne M. Parrotte acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $38.62 per share, with a total value of $77,240.00. Following the acquisition, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dennis Fehr acquired 6,570 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

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.