JB Capital LLC Buys 2,323 Shares of Cognex Co. (NASDAQ:CGNX)

JB Capital LLC grew its position in Cognex Co. (NASDAQ:CGNXFree Report) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,844 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,323 shares during the quarter. JB Capital LLC’s holdings in Cognex were worth $1,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CGNX. HHM Wealth Advisors LLC boosted its position in Cognex by 19.8% during the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after purchasing an additional 301 shares in the last quarter. Fifth Third Bancorp raised its stake in Cognex by 11.3% in the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 390 shares during the last quarter. Covestor Ltd raised its position in shares of Cognex by 18.7% in the first quarter. Covestor Ltd now owns 2,977 shares of the scientific and technical instruments company’s stock valued at $126,000 after buying an additional 469 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Cognex by 3.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,871 shares of the scientific and technical instruments company’s stock valued at $588,000 after acquiring an additional 487 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Cognex by 2.4% during the 3rd quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company’s stock worth $888,000 after purchasing an additional 512 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Stock Performance

Shares of CGNX traded up $0.26 during trading hours on Thursday, hitting $42.86. The stock had a trading volume of 122,010 shares, compared to its average volume of 1,281,048. The company’s fifty day simple moving average is $39.50 and its 200 day simple moving average is $42.99. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13. The firm has a market cap of $7.35 billion, a P/E ratio of 81.92 and a beta of 1.40.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.08 dividend. This is an increase from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.75%. Cognex’s dividend payout ratio (DPR) is 61.54%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CGNX. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. Needham & Company LLC cut their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 1st. DA Davidson dropped their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Vertical Research started coverage on Cognex in a report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.91.

Get Our Latest Analysis on CGNX

Insider Activity

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the purchase, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Cognex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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