Skandinaviska Enskilda Banken AB publ Has $2.12 Million Position in Cognex Co. (NASDAQ:CGNX)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,304 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,712 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cognex were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CGNX. Massmutual Trust Co. FSB ADV lifted its stake in shares of Cognex by 94.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 286 shares during the last quarter. Rise Advisors LLC raised its position in Cognex by 1,239.7% in the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 719 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of 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 valued at $33,000 after purchasing an additional 579 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 798 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Cognex by 43.2% in the second quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 514 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Down 0.8 %

Shares of NASDAQ CGNX opened at $39.41 on Tuesday. The firm has a market cap of $6.77 billion, a PE ratio of 67.95 and a beta of 1.41. The company’s fifty day simple moving average is $41.61 and its 200 day simple moving average is $43.24. Cognex Co. has a 12-month low of $34.28 and a 12-month high of $53.13.

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

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cognex’s dividend payout ratio is currently 51.72%.

Insider Activity at Cognex

In other Cognex news, Director Dianne M. Parrotte acquired 2,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were purchased 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 $437,950.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dianne M. Parrotte bought 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought 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 directly owns 11,340 shares of the company’s stock, valued at $437,950.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dennis Fehr purchased 6,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, with a total value 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. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on CGNX. The Goldman Sachs Group cut their target price on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Needham & Company LLC lifted their target price on Cognex from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, DA Davidson decreased 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.