Truvestments Capital LLC Sells 487 Shares of Cognex Co. (NASDAQ:CGNX)

Truvestments Capital LLC lessened its stake in shares of Cognex Co. (NASDAQ:CGNX) by 29.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,193 shares of the scientific and technical instruments company’s stock after selling 487 shares during the quarter. Truvestments Capital LLC’s holdings in Cognex were worth $51,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Cognex by 303.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 579 shares during the period. Rise Advisors LLC lifted its position in shares of Cognex by 1,239.7% during the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares during the period. Janiczek Wealth Management LLC lifted its position in shares of Cognex by 71.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,295 shares of the scientific and technical instruments company’s stock worth $54,000 after buying an additional 541 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Cognex during the 4th quarter worth approximately $56,000. Institutional investors own 88.12% of the company’s stock.

Cognex Stock Up 2.0 %

Shares of Cognex stock traded up $0.99 during trading on Friday, reaching $49.68. 808,367 shares of the company were exchanged, compared to its average volume of 1,026,335. Cognex Co. has a twelve month low of $34.28 and a twelve month high of $55.08. The business has a 50-day moving average price of $47.42 and a 200-day moving average price of $42.75. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 85.66 and a beta of 1.42.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. Cognex had a return on equity of 6.81% and a net margin of 11.76%. The business had revenue of $210.80 million during the quarter, compared to analysts’ expectations of $198.14 million. On average, equities research analysts forecast that Cognex Co. will post 0.46 EPS for the current fiscal year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.60%. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGNX. Vertical Research began coverage on Cognex in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price objective for the company. StockNews.com upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Cognex from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, May 6th. Robert W. Baird lifted their price objective on Cognex from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Truist Financial lifted their price objective on Cognex from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.14.

About Cognex

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.