Wells Fargo & Company MN lessened its holdings in Canon Inc (NYSE:CAJ) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 351,737 shares of the technology company’s stock after selling 63,559 shares during the period. Wells Fargo & Company MN’s holdings in Canon were worth $11,499,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Institutional & Family Asset Management LLC acquired a new position in shares of Canon in the 1st quarter valued at $118,000. Vigilant Capital Management LLC acquired a new position in shares of Canon in the 2nd quarter valued at $112,000. Trexquant Investment LP acquired a new position in shares of Canon in the 1st quarter valued at $229,000. Bayesian Capital Management LP acquired a new position in shares of Canon in the 1st quarter valued at $233,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Canon in the 1st quarter valued at $258,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Canon stock traded down $0.43 during trading hours on Friday, hitting $30.58. The company’s stock had a trading volume of 1,000 shares, compared to its average volume of 221,822. Canon Inc has a twelve month low of $30.86 and a twelve month high of $40.67. The firm has a market cap of $33.95 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.70 and a beta of 0.70. The company has a quick ratio of 1.46, a current ratio of 2.03 and a debt-to-equity ratio of 0.15.
Canon (NYSE:CAJ) last posted its earnings results on Thursday, July 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Canon had a return on equity of 8.96% and a net margin of 6.19%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.09 billion. equities analysts expect that Canon Inc will post 2.28 earnings per share for the current year.
The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, September 4th. Investors of record on Thursday, June 28th were paid a dividend of $0.574 per share. The ex-dividend date of this dividend was Wednesday, June 27th. Canon’s payout ratio is 53.49%.
CAJ has been the topic of several recent analyst reports. Zacks Investment Research raised Canon from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. JPMorgan Chase & Co. lowered Canon from an “overweight” rating to a “neutral” rating in a research note on Monday, June 25th. Goldman Sachs Group lowered Canon from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, ValuEngine lowered Canon from a “hold” rating to a “sell” rating in a research note on Monday, June 18th.
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 in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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