Citigroup Inc. increased its position in shares of Canon, Inc. (NYSE:CAJ) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,095 shares of the technology company’s stock after purchasing an additional 1,210 shares during the quarter. Citigroup Inc.’s holdings in Canon were worth $684,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of Canon by 301.8% during the first quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,460 shares during the period. Sei Investments Co. lifted its holdings in shares of Canon by 67.5% during the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after purchasing an additional 1,907 shares during the period. Jarislowsky Fraser Ltd acquired a new stake in shares of Canon during the second quarter worth about $204,000. Eqis Capital Management Inc. acquired a new stake in shares of Canon during the second quarter worth about $233,000. Finally, Signaturefd LLC acquired a new stake in shares of Canon during the first quarter worth about $247,000. 1.20% of the stock is owned by hedge funds and other institutional investors.
CAJ has been the subject of a number of research reports. Zacks Investment Research downgraded Canon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub downgraded Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Canon presently has a consensus rating of “Buy” and a consensus price target of $40.00.
Shares of Canon, Inc. (CAJ) opened at 35.10 on Wednesday. Canon, Inc. has a 12-month low of $27.76 and a 12-month high of $35.91. The firm has a market cap of $37.90 billion, a P/E ratio of 21.43 and a beta of 0.42. The company’s 50 day moving average price is $34.52 and its 200-day moving average price is $33.97.
Canon (NYSE:CAJ) last announced its earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating 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 anticipate that Canon, Inc. will post $1.62 EPS for the current year.
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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