Janney Montgomery Scott LLC Has $762,000 Position in Cognex Co. (NASDAQ:CGNX)

Janney Montgomery Scott LLC increased its stake in shares of Cognex Co. (NASDAQ:CGNX) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,813 shares of the scientific and technical instruments company’s stock after buying an additional 2,799 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cognex were worth $762,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CGNX. Riverview Trust Co acquired a new stake in shares of Cognex in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in shares of 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 valued at $51,000 after purchasing an additional 798 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Cognex in the 2nd quarter valued at $55,000. Signaturefd LLC boosted its holdings in shares of Cognex by 43.2% in the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock valued at $80,000 after purchasing an additional 514 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Cognex by 19.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock valued at $85,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Stock Down 2.3 %

Shares of NASDAQ:CGNX opened at $39.61 on Monday. The firm has a market cap of $6.79 billion, a P/E ratio of 76.17 and a beta of 1.40. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13. The business has a fifty day simple moving average of $39.86 and a 200 day simple moving average of $43.06.

Cognex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.08 per share. This is a positive change from Cognex’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 14th. Cognex’s dividend payout ratio (DPR) is currently 61.54%.

Analysts Set New Price Targets

CGNX has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Needham & Company LLC dropped their price target on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. DA Davidson dropped their price target on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Vertical Research began coverage on Cognex in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.91.

Insider Buying and Selling

In other Cognex news, CFO Dennis Fehr acquired 6,570 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the transaction, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate 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.