Cognex Corporation $CGNX Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 121.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,990 shares of the scientific and technical instruments company's stock after purchasing an additional 7,126 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Cognex were worth $412,000 at the end of the most recent reporting period.

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Several other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Cognex by 10.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,788 shares of the scientific and technical instruments company's stock worth $88,000 after buying an additional 268 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Cognex by 31.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,277 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 306 shares in the last quarter. Covestor Ltd raised its position in Cognex by 17.6% during the first quarter. Covestor Ltd now owns 2,223 shares of the scientific and technical instruments company's stock worth $66,000 after acquiring an additional 332 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Cognex by 3.5% in the first quarter. Inspire Investing LLC now owns 11,591 shares of the scientific and technical instruments company's stock valued at $346,000 after purchasing an additional 397 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Cognex by 1.8% in the first quarter. Voya Investment Management LLC now owns 24,301 shares of the scientific and technical instruments company's stock valued at $725,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Insider Activity at Cognex

In other news, EVP Sheila Marie Dipalma sold 2,002 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $45.00, for a total transaction of $90,090.00. Following the completion of the sale, the executive vice president directly owned 8,582 shares of the company's stock, valued at $386,190. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Willett sold 6,704 shares of the company's stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $49.51, for a total value of $331,915.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,706 shares of company stock valued at $512,065 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Cognex Stock Up 0.6%

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Shares of NASDAQ:CGNX opened at $37.12 on Tuesday. The company has a market cap of $6.22 billion, a P/E ratio of 58.00 and a beta of 1.52. The business has a fifty day simple moving average of $43.27 and a 200-day simple moving average of $38.45. Cognex Corporation has a 52 week low of $22.67 and a 52 week high of $49.76.

Cognex (NASDAQ:CGNX - Get Free Report) last released its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The firm had revenue of $264.00 million for the quarter, compared to the consensus estimate of $261.86 million. Cognex had a return on equity of 8.26% and a net margin of 11.33%.The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. Cognex has set its Q4 2025 guidance at 0.190-0.24 EPS. Sell-side analysts expect that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.

Cognex Increases Dividend

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The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be issued a $0.085 dividend. The ex-dividend date is Thursday, November 13th. This is a positive change from Cognex's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 0.9%. Cognex's payout ratio is presently 53.13%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Cognex in a research report on Monday, September 15th. They set a "neutral" rating and a $45.00 price objective for the company. KeyCorp reissued an "overweight" rating and set a $50.00 price target on shares of Cognex in a research report on Friday, October 31st. Truist Financial set a $45.00 price objective on Cognex and gave the company a "hold" rating in a research report on Wednesday, October 8th. Robert W. Baird set a $45.00 price objective on Cognex in a research note on Friday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Cognex from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cognex currently has a consensus rating of "Moderate Buy" and an average price target of $46.20.

View Our Latest Research Report on CGNX

Cognex Company 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.

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