Cognex Co. (NASDAQ:CGNX) Shares Sold by Fulcrum Equity Management

Fulcrum Equity Management trimmed its position in Cognex Co. (NASDAQ:CGNX) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,500 shares of the scientific and technical instruments company’s stock after selling 1,243 shares during the period. Fulcrum Equity Management’s holdings in Cognex were worth $2,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. CI Investments Inc. boosted its stake in Cognex by 29.8% in the fourth quarter. CI Investments Inc. now owns 583 shares of the scientific and technical instruments company’s stock valued at $47,000 after acquiring an additional 134 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Cognex by 0.5% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,602 shares of the scientific and technical instruments company’s stock worth $2,778,000 after purchasing an additional 176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Cognex by 1.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,568 shares of the scientific and technical instruments company’s stock worth $1,169,000 after purchasing an additional 193 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Cognex by 1.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 17,307 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 236 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Cognex by 0.7% during the fourth quarter. M&T Bank Corp now owns 34,616 shares of the scientific and technical instruments company’s stock worth $2,779,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 91.47% of the company’s stock.

Shares of NASDAQ CGNX traded up $0.83 during trading on Thursday, hitting $83.28. The company had a trading volume of 4,321 shares, compared to its average volume of 847,674. The stock has a fifty day simple moving average of $81.99 and a two-hundred day simple moving average of $77.42. Cognex Co. has a fifty-two week low of $44.23 and a fifty-two week high of $101.82. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 77.86 and a beta of 1.64.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, February 10th. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Cognex had a net margin of 24.72% and a return on equity of 13.45%. The business had revenue of $223.62 million for the quarter, compared to analyst estimates of $206.81 million. Sell-side analysts predict that Cognex Co. will post 0.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 12th. Investors of record on Friday, February 26th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. Cognex’s payout ratio is presently 20.69%.

Several research analysts recently issued reports on CGNX shares. Raymond James raised their target price on shares of Cognex from $75.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a report on Thursday, February 18th. Morgan Stanley lifted their price objective on shares of Cognex from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, February 12th. HSBC raised shares of Cognex from a “hold” rating to a “buy” rating in a report on Thursday, January 14th. Finally, Cowen lifted their price objective on shares of Cognex from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Cognex has an average rating of “Hold” and an average target price of $71.90.

In related news, EVP Carl Gerst sold 115,000 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $82.76, for a total transaction of $9,517,400.00. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $82.26, for a total transaction of $411,300.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $411,300. The disclosure for this sale can be found here. Insiders have sold 129,800 shares of company stock worth $10,781,888 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, 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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