Mutual of America Capital Management LLC Sells 4,279 Shares of Cognex Co. (NASDAQ:CGNX)

Mutual of America Capital Management LLC trimmed its holdings in Cognex Co. (NASDAQ:CGNX) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,285 shares of the scientific and technical instruments company’s stock after selling 4,279 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Cognex worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Cognex by 1.1% during the first quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company’s stock valued at $743,307,000 after acquiring an additional 188,485 shares in the last quarter. Brown Capital Management LLC grew its position in Cognex by 5.1% during the 4th quarter. Brown Capital Management LLC now owns 5,419,313 shares of the scientific and technical instruments company’s stock valued at $226,202,000 after purchasing an additional 262,003 shares during the last quarter. Impax Asset Management Group plc increased its stake in Cognex by 32.8% during the 2nd quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company’s stock valued at $237,812,000 after purchasing an additional 1,259,116 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Cognex by 8.1% in the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company’s stock worth $187,907,000 after buying an additional 301,916 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Cognex by 29.0% in the first quarter. Nordea Investment Management AB now owns 2,663,900 shares of the scientific and technical instruments company’s stock worth $113,722,000 after buying an additional 598,207 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

Insider Transactions at Cognex

In related news, Director Dianne M. Parrotte bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $38.62 per share, with a total value of $77,240.00. Following the completion of the purchase, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dianne M. Parrotte purchased 2,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the acquisition, the director now directly owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dennis Fehr acquired 6,570 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of 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. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CGNX has been the topic of several analyst reports. Vertical Research initiated coverage on Cognex in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price objective on the stock. Truist Financial dropped their price objective on Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Needham & Company LLC upped their target price on shares of Cognex from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Stephens reaffirmed an “equal weight” rating and set a $45.00 price target on shares of Cognex in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cognex currently has a consensus rating of “Moderate Buy” and an average price target of $49.62.

Cognex Stock Performance

CGNX opened at $39.74 on Friday. Cognex Co. has a fifty-two week low of $34.28 and a fifty-two week high of $53.13. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 68.52 and a beta of 1.41. The firm’s fifty day moving average is $41.86 and its 200 day moving average is $43.24.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $239.00 million during the quarter, compared to analyst estimates of $240.33 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, equities research analysts predict that Cognex Co. will post 0.44 earnings per share for the current year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, August 15th. Cognex’s payout ratio is currently 51.72%.

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.