Calton & Associates Inc. purchased a new stake in Cognex Co. (NASDAQ:CGNX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,291 shares of the scientific and technical instruments company’s stock, valued at approximately $298,000.
Other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Cognex by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 133,670 shares of the scientific and technical instruments company’s stock valued at $11,349,000 after acquiring an additional 2,551 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Cognex in the 3rd quarter valued at about $8,308,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Cognex in the 3rd quarter valued at about $841,000. Eagle Boston Investment Management Inc. purchased a new stake in shares of Cognex in the 3rd quarter valued at about $265,000. Finally, State Street Corp raised its holdings in shares of Cognex by 2.2% in the 2nd quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock valued at $184,153,000 after acquiring an additional 45,840 shares in the last quarter. 44.37% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. JPMorgan Chase & Co. cut Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target on the stock. in a report on Wednesday, November 8th. Zacks Investment Research cut Cognex from a “strong-buy” rating to a “sell” rating in a report on Tuesday, January 2nd. BidaskClub cut Cognex from a “hold” rating to a “sell” rating in a report on Thursday. Deutsche Bank set a $80.00 price target on Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Robert W. Baird raised their price target on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.00.
In related news, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.60% of the company’s stock.
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Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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