Truvestments Capital LLC Invests $36,000 in Cognex Co. (NASDAQ:CGNX)

Truvestments Capital LLC bought a new stake in Cognex Co. (NASDAQ:CGNX) in the third quarter, HoldingsChannel reports. The fund bought 896 shares of the scientific and technical instruments company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGNX. Impax Asset Management Group plc grew its stake in shares of Cognex by 2.6% in the third quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company’s stock valued at $211,303,000 after buying an additional 131,560 shares in the last quarter. William Blair Investment Management LLC raised its stake in Cognex by 8.1% in the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company’s stock valued at $187,907,000 after buying an additional 301,916 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Cognex by 1.4% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,445,894 shares of the scientific and technical instruments company’s stock valued at $161,130,000 after purchasing an additional 49,026 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Cognex by 30.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 2,056,701 shares of the scientific and technical instruments company’s stock worth $96,171,000 after buying an additional 480,143 shares during the period. Finally, Copeland Capital Management LLC grew its position in shares of Cognex by 10.2% in the third quarter. Copeland Capital Management LLC now owns 1,767,426 shares of the scientific and technical instruments company’s stock valued at $71,581,000 after purchasing an additional 162,965 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Down 0.3 %

NASDAQ:CGNX opened at $40.11 on Thursday. Cognex Co. has a twelve month low of $34.79 and a twelve month high of $53.13. The stock’s 50-day simple moving average is $40.05 and its 200 day simple moving average is $42.81. The firm has a market capitalization of $6.88 billion, a PE ratio of 77.39 and a beta of 1.40.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid 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 0.80%. Cognex’s dividend payout ratio is presently 61.54%.

Insiders Place Their Bets

In related news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the acquisition, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CGNX. StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC cut their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 1st. DA Davidson lowered their target price on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Stephens upgraded Cognex from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $55.00 in a research note on Wednesday, October 16th. Finally, Robert W. Baird cut their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.91.

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.