NorthCoast Asset Management LLC acquired a new position in shares of Canon, Inc. (NYSE:CAJ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,508 shares of the technology company’s stock, valued at approximately $2,127,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Canon by 1.7% during the 1st quarter. FMR LLC now owns 525,719 shares of the technology company’s stock worth $16,439,000 after purchasing an additional 8,834 shares in the last quarter. Jarislowsky Fraser Ltd acquired a new stake in shares of Canon during the 2nd quarter worth $204,000. Dimensional Fund Advisors LP boosted its stake in Canon by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 181,850 shares of the technology company’s stock valued at $5,686,000 after buying an additional 942 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Canon by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock valued at $3,880,000 after buying an additional 2,962 shares in the last quarter. Finally, UBS Group AG boosted its stake in Canon by 4.2% in the first quarter. UBS Group AG now owns 26,927 shares of the technology company’s stock valued at $842,000 after buying an additional 1,082 shares in the last quarter. 1.20% of the stock is currently owned by institutional investors.
Shares of Canon, Inc. (NYSE:CAJ) traded up 0.52% during mid-day trading on Friday, hitting $34.57. The stock had a trading volume of 105,197 shares. The stock has a market cap of $37.33 billion, a P/E ratio of 21.21 and a beta of 0.41. The firm has a 50 day moving average price of $34.85 and a 200-day moving average price of $33.43. Canon, Inc. has a 12 month low of $27.76 and a 12 month high of $35.91.
Canon (NYSE:CAJ) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Canon had a return on equity of 6.48% and a net margin of 5.17%. On average, equities research analysts forecast that Canon, Inc. will post $1.64 EPS for the current year.
Separately, BidaskClub lowered Canon from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Canon currently has a consensus rating of “Hold” and an average target price of $36.00.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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