California State Teachers Retirement System Increases Stake in Cognex Co. (NASDAQ:CGNX)

California State Teachers Retirement System lifted its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 273,640 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,146 shares during the period. California State Teachers Retirement System owned about 0.16% of Cognex worth $13,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CGNX. NEXT Financial Group Inc raised its holdings in Cognex by 1,081.8% during the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 476 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Cognex during the third quarter worth about $25,000. Coastal Capital Group Inc. purchased a new stake in shares of Cognex during the second quarter worth about $38,000. Quadrant Capital Group LLC boosted its holdings in shares of Cognex by 622.3% during the third quarter. Quadrant Capital Group LLC now owns 1,199 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 1,033 shares during the period. Finally, Advisory Services Network LLC grew its stake in shares of Cognex by 77.1% in the second quarter. Advisory Services Network LLC now owns 1,261 shares of the scientific and technical instruments company’s stock worth $61,000 after purchasing an additional 549 shares during the last quarter. 91.37% of the stock is currently owned by institutional investors.

In other news, CEO Robert Willett sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.49, for a total transaction of $5,049,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $5,049,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Laura Ann Macdonald sold 24,000 shares of Cognex stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $51.35, for a total transaction of $1,232,400.00. Following the sale, the insider now directly owns 24,000 shares of the company’s stock, valued at approximately $1,232,400. The disclosure for this sale can be found here. Insiders sold a total of 396,202 shares of company stock valued at $20,619,219 in the last quarter. 5.60% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on CGNX shares. DA Davidson boosted their price target on Cognex from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Cowen reiterated an “outperform” rating and issued a $60.00 price objective (up previously from $50.00) on shares of Cognex in a report on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Cognex in a research report on Tuesday, October 29th. Robert W. Baird boosted their target price on Cognex from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Morgan Stanley set a $47.00 target price on Cognex and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.10.

Shares of NASDAQ:CGNX opened at $49.28 on Wednesday. The company has a market capitalization of $8.58 billion, a P/E ratio of 51.73 and a beta of 2.07. Cognex Co. has a 1-year low of $34.88 and a 1-year high of $57.31. The firm’s 50 day simple moving average is $51.38 and its two-hundred day simple moving average is $46.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.71 and a quick ratio of 6.90.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Cognex had a net margin of 22.55% and a return on equity of 14.21%. The firm had revenue of $183.33 million for the quarter, compared to the consensus estimate of $177.78 million. During the same period last year, the firm earned $0.45 EPS. The company’s revenue was down 21.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cognex Co. will post 0.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.055 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.22 annualized dividend and a yield of 0.45%. This is an increase from Cognex’s previous quarterly dividend of $0.05. Cognex’s dividend payout ratio is currently 17.74%.

Cognex Profile

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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