Cognex Co. (NASDAQ:CGNX) Shares Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. grew its position in Cognex Co. (NASDAQ:CGNX) by 9.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,055 shares of the scientific and technical instruments company’s stock after purchasing an additional 349 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Cognex were worth $164,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CGNX. Riverview Trust Co acquired a new position in shares of Cognex in the third quarter valued at about $25,000. Advisors Asset Management Inc. increased its holdings in shares of Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares during the period. Truvestments Capital LLC acquired a new position in shares of Cognex in the third quarter valued at about $36,000. GAMMA Investing LLC boosted its stake in shares of Cognex by 276.1% in the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after buying an additional 798 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Cognex in the second quarter worth about $55,000. 88.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on CGNX shares. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $55.00 in a research note on Wednesday, October 16th. Truist Financial downgraded Cognex from a “buy” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $43.00 in a research note on Tuesday, November 5th. Needham & Company LLC lowered their target price on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.91.

Insiders Place Their Bets

In other news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the sale, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Cognex Trading Down 1.2 %

NASDAQ:CGNX opened at $38.80 on Thursday. The firm has a market cap of $6.65 billion, a PE ratio of 74.62 and a beta of 1.39. The stock has a fifty day moving average price of $40.11 and a 200 day moving average price of $42.52. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

Cognex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, November 14th. Cognex’s payout ratio is 61.54%.

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.