Mercer Global Advisors Inc. ADV acquired a new stake in Canon Inc (NYSE:CAJ) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,587 shares of the technology company’s stock, valued at approximately $761,000.
Several other institutional investors also recently bought and sold shares of CAJ. Rhumbline Advisers bought a new position in shares of Canon in the third quarter valued at approximately $229,000. Credit Suisse AG boosted its holdings in shares of Canon by 74.4% in the third quarter. Credit Suisse AG now owns 39,414 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 16,817 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Canon by 12.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,123 shares of the technology company’s stock valued at $763,000 after acquiring an additional 2,591 shares in the last quarter. LPL Financial LLC bought a new position in shares of Canon in the third quarter valued at approximately $215,000. Finally, Morgan Stanley boosted its holdings in shares of Canon by 11.0% in the third quarter. Morgan Stanley now owns 167,479 shares of the technology company’s stock valued at $5,301,000 after acquiring an additional 16,532 shares in the last quarter. Institutional investors and hedge funds own 1.17% of the company’s stock.
CAJ stock opened at $29.02 on Thursday. Canon Inc has a 12 month low of $26.36 and a 12 month high of $36.50. The company has a market cap of $31.77 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 3.35 and a beta of 0.60. The company has a quick ratio of 1.40, a current ratio of 1.99 and a debt-to-equity ratio of 0.12.
Canon (NYSE:CAJ) last released its earnings results on Wednesday, January 30th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. Canon had a net margin of 6.40% and a return on equity of 8.22%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $10.03 billion. Equities analysts predict that Canon Inc will post 1.92 earnings per share for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which was paid on Friday, April 5th. Investors of record on Friday, December 28th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, December 27th. This is an increase from Canon’s previous Semi-Annual dividend of $0.57. Canon’s dividend payout ratio is 53.99%.
Several research analysts have recently issued reports on the stock. ValuEngine cut shares of Canon from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Morgan Stanley upgraded shares of Canon from an “equal weight” rating to an “overweight” rating in a report on Tuesday. Zacks Investment Research cut shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Goldman Sachs Group upgraded shares of Canon from a “sell” rating to a “neutral” rating in a report on Thursday, February 21st. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Canon has a consensus rating of “Hold”.
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.
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