LSV Asset Management raised its position in shares of Canon Inc (NYSE:CAJ) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 999,900 shares of the technology company’s stock after acquiring an additional 49,200 shares during the period. LSV Asset Management’s holdings in Canon were worth $31,646,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CAJ. Moody National Bank Trust Division bought a new stake in shares of Canon in the 3rd quarter worth approximately $110,000. CWM LLC boosted its position in shares of Canon by 4,305.5% in the 3rd quarter. CWM LLC now owns 8,018 shares of the technology company’s stock worth $254,000 after purchasing an additional 7,836 shares in the last quarter. Cozad Asset Management Inc. bought a new position in Canon in the 2nd quarter valued at approximately $260,000. Lourd Capital LLC bought a new position in Canon in the 3rd quarter valued at approximately $270,000. Finally, Jane Street Group LLC bought a new position in Canon in the 2nd quarter valued at approximately $426,000. 1.61% of the stock is currently owned by institutional investors and hedge funds.
CAJ has been the topic of several analyst reports. JPMorgan Chase & Co. cut Canon from a “neutral” rating to an “underweight” rating in a research report on Thursday, September 13th. Zacks Investment Research raised Canon from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st.
CAJ stock opened at $28.59 on Monday. The company has a market capitalization of $31.22 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81. Canon Inc has a 12-month low of $27.73 and a 12-month high of $40.67. The company has a current ratio of 2.04, a quick ratio of 1.40 and a debt-to-equity ratio of 0.14.
Canon (NYSE:CAJ) last released its quarterly earnings data on Thursday, October 25th. The technology company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $9.01 billion. Canon had a net margin of 5.88% and a return on equity of 8.36%. As a group, analysts forecast that Canon Inc will post 2.16 EPS for the current year.
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 in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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