Parametric Portfolio Associates LLC Decreases Stock Holdings in Canon Inc (NYSE:CAJ)

Parametric Portfolio Associates LLC reduced its stake in shares of Canon Inc (NYSE:CAJ) by 27.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,140,580 shares of the technology company’s stock after selling 424,245 shares during the period. Parametric Portfolio Associates LLC owned 0.11% of Canon worth $30,453,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Greenleaf Trust boosted its position in shares of Canon by 8.3% during the 2nd quarter. Greenleaf Trust now owns 12,870 shares of the technology company’s stock valued at $377,000 after acquiring an additional 985 shares during the last quarter. Manning & Napier Group LLC increased its holdings in shares of Canon by 58.3% during the 2nd quarter. Manning & Napier Group LLC now owns 118,768 shares of the technology company’s stock worth $3,476,000 after buying an additional 43,738 shares during the last quarter. Wetherby Asset Management Inc. increased its holdings in shares of Canon by 14.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 24,631 shares of the technology company’s stock worth $721,000 after buying an additional 3,071 shares during the last quarter. Conning Inc. raised its position in shares of Canon by 4.8% during the 2nd quarter. Conning Inc. now owns 20,101 shares of the technology company’s stock valued at $588,000 after buying an additional 918 shares during the period. Finally, Bailard Inc. purchased a new stake in shares of Canon during the 2nd quarter valued at approximately $259,000. Institutional investors and hedge funds own 1.19% of the company’s stock.

NYSE:CAJ opened at $27.69 on Wednesday. Canon Inc has a fifty-two week low of $25.49 and a fifty-two week high of $30.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.18 and a current ratio of 1.77. The company has a 50 day moving average price of $27.36 and a 200 day moving average price of $27.62. The stock has a market capitalization of $29.40 billion, a P/E ratio of 20.03, a PEG ratio of 4.82 and a beta of 0.56.

Canon (NYSE:CAJ) last released its quarterly earnings results on Monday, October 28th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Canon had a return on equity of 5.56% and a net margin of 4.41%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.04 billion. Research analysts forecast that Canon Inc will post 1.28 earnings per share for the current fiscal year.

CAJ has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Canon from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Goldman Sachs Group cut shares of Canon from a “neutral” rating to a “sell” rating in a research report on Friday, September 20th.

Canon Company Profile

Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

Further Reading: Diversification Important in Investing

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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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