GW&K Investment Management LLC Increases Stake in Cognex Co. (NASDAQ:CGNX)

GW&K Investment Management LLC boosted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 749,702 shares of the scientific and technical instruments company’s stock after acquiring an additional 92,251 shares during the quarter. GW&K Investment Management LLC’s holdings in Cognex were worth $36,833,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bartlett & Co. LLC purchased a new position in Cognex during the third quarter valued at approximately $25,000. NEXT Financial Group Inc grew its holdings in Cognex by 1,081.8% in the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 476 shares during the period. Huntington National Bank grew its holdings in Cognex by 173.6% in the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares during the period. Coastal Capital Group Inc. acquired a new stake in Cognex in the second quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC grew its holdings in Cognex by 622.3% in the third quarter. Quadrant Capital Group LLC now owns 1,199 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 1,033 shares during the period. Institutional investors own 91.98% of the company’s stock.

Shares of NASDAQ:CGNX traded down $0.35 during trading on Friday, reaching $53.34. The stock had a trading volume of 889,500 shares, compared to its average volume of 1,163,167. Cognex Co. has a 1-year low of $34.88 and a 1-year high of $57.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.90 and a current ratio of 7.71. The stock has a market cap of $9.32 billion, a PE ratio of 43.02 and a beta of 2.10. The business has a fifty day moving average price of $50.16 and a 200-day moving average price of $46.56.

Cognex (NASDAQ:CGNX) last posted its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $183.33 million for the quarter, compared to the consensus estimate of $177.78 million. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The company’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. Sell-side analysts expect that Cognex Co. will post 0.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.05. Cognex’s payout ratio is currently 16.13%.

CGNX has been the topic of several research analyst reports. BidaskClub raised Cognex from a “buy” rating to a “strong-buy” rating in a report on Thursday. Cowen reissued an “outperform” rating and issued a $60.00 price objective (up from $50.00) on shares of Cognex in a report on Monday, September 23rd. Morgan Stanley set a $47.00 price objective on Cognex and gave the company a “hold” rating in a report on Friday, November 1st. ValuEngine lowered Cognex from a “sell” rating to a “strong sell” rating in a report on Monday, October 14th. Finally, Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Cognex currently has an average rating of “Hold” and a consensus target price of $50.45.

In related news, SVP Sheila Marie Dipalma sold 79,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $51.81, for a total value of $4,118,895.00. Following the sale, the senior vice president now owns 10,000 shares in the company, valued at approximately $518,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $40,500.00. Following the completion of the sale, the director now owns 19,700 shares in the company, valued at approximately $886,500. The disclosure for this sale can be found here. Insiders sold a total of 153,808 shares of company stock worth $7,993,210 in the last quarter. Company insiders own 5.60% of the company’s stock.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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