Pathstone Holdings LLC Sells 1,114 Shares of Cognex Co. (NASDAQ:CGNX)

Pathstone Holdings LLC lessened its position in Cognex Co. (NASDAQ:CGNX) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,456 shares of the scientific and technical instruments company’s stock after selling 1,114 shares during the quarter. Pathstone Holdings LLC’s holdings in Cognex were worth $2,610,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Cognex by 986.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock valued at $68,679,000 after buying an additional 1,469,961 shares during the period. Tidal Investments LLC grew its position in Cognex by 88.7% in the 1st quarter. Tidal Investments LLC now owns 9,463 shares of the scientific and technical instruments company’s stock valued at $402,000 after acquiring an additional 4,448 shares during the last quarter. Comerica Bank grew its holdings in shares of Cognex by 6.3% in the first quarter. Comerica Bank now owns 104,389 shares of the scientific and technical instruments company’s stock worth $4,428,000 after purchasing an additional 6,218 shares during the last quarter. Swedbank AB purchased a new stake in Cognex in the 1st quarter valued at about $58,502,000. Finally, GAMMA Investing LLC grew its stake in Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 798 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CGNX shares. The Goldman Sachs Group decreased their price target on shares of Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Truist Financial lowered Cognex from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $43.00 in a research note on Tuesday, November 5th. 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. Finally, DA Davidson dropped their target price on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.91.

Insiders Place Their Bets

In other Cognex news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the sale, the director now owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dennis Fehr acquired 6,570 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought 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 owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Cognex Stock Performance

CGNX stock opened at $41.53 on Tuesday. The firm has a 50-day simple moving average of $39.97 and a two-hundred day simple moving average of $42.89. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 79.87 and a beta of 1.40.

Cognex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.77%. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. Cognex’s dividend payout ratio (DPR) is 61.54%.

Cognex Company 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.