Blue Trust Inc. Has $115,000 Position in Cognex Co. (NASDAQ:CGNX)

Blue Trust Inc. grew its stake in Cognex Co. (NASDAQ:CGNX) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,201 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,030 shares during the quarter. Blue Trust Inc.’s holdings in Cognex were worth $115,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Cognex during the third quarter worth approximately $25,000. Advisors Asset Management Inc. raised its position in shares of Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 394 shares in the last quarter. Truvestments Capital LLC bought a new stake in Cognex during the third quarter worth $36,000. Clean Yield Group grew its position in Cognex by 1,686.7% in the fourth quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Cognex in the third quarter worth about $40,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CGNX. Cantor Fitzgerald raised shares of Cognex to a “strong-buy” rating in a research note on Friday, December 20th. Citigroup dropped their price target on Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Truist Financial upped their target price on Cognex from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Stephens restated an “overweight” rating and set a $55.00 price target on shares of Cognex in a report on Thursday, January 2nd. Finally, Needham & Company LLC dropped their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Cognex Price Performance

Shares of Cognex stock opened at $38.66 on Friday. The business has a 50-day simple moving average of $38.03 and a 200 day simple moving average of $39.60. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 74.35 and a beta of 1.40. Cognex Co. has a one year low of $34.98 and a one year high of $53.13.

Insider Activity

In other news, Director Anthony Sun sold 26,000 shares of the stock in a transaction that occurred on 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 directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.