Hsbc Holdings PLC Has $415,000 Stock Holdings in Cognex Co. (NASDAQ:CGNX)

Hsbc Holdings PLC decreased its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 77.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,847 shares of the scientific and technical instruments company’s stock after selling 31,232 shares during the period. Hsbc Holdings PLC’s holdings in Cognex were worth $415,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CGNX. Massmutual Trust Co. FSB ADV raised its holdings in Cognex by 94.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares during the last quarter. Rise Advisors LLC raised its holdings in Cognex by 1,239.7% during the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Cognex by 303.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 579 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cognex by 276.1% during the second 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 during the last quarter. Finally, Signaturefd LLC raised its holdings in Cognex by 43.2% during the second 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 during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Trading Down 2.0 %

Shares of Cognex stock opened at $39.69 on Wednesday. Cognex Co. has a 12-month low of $34.28 and a 12-month high of $53.13. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 68.43 and a beta of 1.41. The company’s 50-day moving average price is $40.50 and its 200-day moving average price is $43.21.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $239.00 million for the quarter, compared to the consensus estimate of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. Cognex’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, sell-side analysts predict that Cognex Co. will post 0.44 earnings per share for the current year.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Insiders Place Their Bets

In other Cognex news, CFO Dennis Fehr purchased 6,570 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the completion of the purchase, the chief financial officer now owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Dianne M. Parrotte bought 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the acquisition, the director now owns 11,340 shares of the company’s stock, valued at $437,950.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dennis Fehr bought 6,570 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $249,922.80. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CGNX shares. Truist Financial lowered their target price 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. Stephens reiterated an “equal weight” rating and issued a $45.00 target price on shares of Cognex in a report on Monday, August 5th. Robert W. Baird lowered 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. 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. Finally, DA Davidson reduced their price target on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cognex presently has an average rating of “Moderate Buy” and a consensus price target 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.