WCM Investment Management LLC Has $14.18 Million Holdings in Cognex Co. (NASDAQ:CGNX)

WCM Investment Management LLC decreased its position in shares of Cognex Co. (NASDAQ:CGNX) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,143 shares of the scientific and technical instruments company’s stock after selling 58,722 shares during the period. WCM Investment Management LLC’s holdings in Cognex were worth $14,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CGNX. Riverview Trust Co acquired a new stake in shares of Cognex during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its stake in Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 798 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Cognex in the 2nd quarter valued at approximately $55,000. Signaturefd LLC lifted its stake in Cognex by 43.2% in the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock valued at $80,000 after purchasing an additional 514 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in Cognex by 19.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock valued at $85,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Insider Buying and Selling

In other news, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $38.04 per share, with a total value 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 document filed with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC dropped their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Truist Financial downgraded shares of Cognex from a “buy” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, November 5th. Finally, Robert W. Baird dropped their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.91.

Cognex Stock Performance

CGNX stock opened at $42.86 on Tuesday. Cognex Co. has a 52-week low of $34.79 and a 52-week high of $53.13. The company has a fifty day moving average price of $39.62 and a 200-day moving average price of $43.06. The company has a market capitalization of $7.35 billion, a P/E ratio of 82.42 and a beta of 1.40.

Cognex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is currently 57.69%.

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.