Brown Capital Management LLC Has $126.98 Million Holdings in Cognex Co. (NASDAQ:CGNX)

Brown Capital Management LLC decreased its position in Cognex Co. (NASDAQ:CGNX) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,135,395 shares of the scientific and technical instruments company’s stock after selling 437,631 shares during the period. Cognex makes up 2.7% of Brown Capital Management LLC’s holdings, making the stock its 16th biggest holding. Brown Capital Management LLC owned about 1.83% of Cognex worth $126,983,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC boosted its position in shares of Cognex by 19.8% during 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 in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Cognex by 11.3% during the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock worth $179,000 after buying an additional 390 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 394 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Cognex by 20.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 457 shares in the last quarter. Finally, Creative Planning lifted its position 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 valued at $888,000 after acquiring an additional 512 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Price Performance

Shares of Cognex stock opened at $39.05 on Thursday. The stock has a fifty day moving average price of $39.90 and a 200-day moving average price of $43.01. The firm has a market cap of $6.70 billion, a PE ratio of 75.10 and a beta of 1.40. Cognex Co. has a 1 year low of $34.79 and a 1 year high of $53.13.

Cognex Increases Dividend

The company 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 of this dividend is Thursday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.82%. Cognex’s dividend payout ratio is presently 61.54%.

Insider Buying and Selling at Cognex

In other Cognex news, CFO Dennis Fehr purchased 6,570 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at approximately $249,922.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CGNX shares. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. DA Davidson dropped their price target on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Truist Financial cut Cognex from a “buy” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, November 5th. Robert W. Baird cut their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Needham & Company LLC decreased their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.