Quantinno Capital Management LP Makes New Investment in Cognex Co. (NASDAQ:CGNX)

Quantinno Capital Management LP purchased a new stake in shares of Cognex Co. (NASDAQ:CGNX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,435 shares of the scientific and technical instruments company’s stock, valued at approximately $342,000.

Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC increased its holdings in Cognex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company’s stock valued at $187,907,000 after buying an additional 301,916 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cognex by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,621,629 shares of the scientific and technical instruments company’s stock valued at $75,828,000 after purchasing an additional 409,502 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Cognex by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,309,827 shares of the scientific and technical instruments company’s stock valued at $61,248,000 after purchasing an additional 15,871 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in Cognex during the second quarter valued at about $980,000. Finally, Legacy Advisors LLC increased its position in Cognex by 15.3% in the second quarter. Legacy Advisors LLC now owns 17,625 shares of the scientific and technical instruments company’s stock worth $824,000 after buying an additional 2,344 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Cognex Stock Performance

CGNX opened at $37.08 on Monday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 71.31 and a beta of 1.39. Cognex Co. has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The company has a fifty day moving average of $39.80 and a 200 day moving average of $42.00.

Cognex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a $0.08 dividend. This is an increase from Cognex’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, November 14th. Cognex’s payout ratio is currently 61.54%.

Insider Activity at Cognex

In other Cognex news, 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 transaction of $1,040,780.00. Following the completion of the transaction, the director now owns 26,608 shares in the company, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CGNX shares. Truist Financial cut Cognex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Needham & Company LLC reduced their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.91.

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.