Canon, Inc. (CAJ) Shares Sold by NGAM Advisors L.P.
NGAM Advisors L.P. lowered its position in shares of Canon, Inc. (NYSE:CAJ) by 60.9% during the second quarter, Holdings Channel reports. The fund owned 24,007 shares of the technology company’s stock after selling 37,404 shares during the period. NGAM Advisors L.P.’s holdings in Canon were worth $817,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Canon by 1.7% in the first quarter. FMR LLC now owns 525,719 shares of the technology company’s stock worth $16,439,000 after buying an additional 8,834 shares during the last quarter. Jarislowsky Fraser Ltd acquired a new stake in shares of Canon during the second quarter worth approximately $204,000. PNC Financial Services Group Inc. increased its stake in shares of Canon by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock worth $3,880,000 after buying an additional 2,962 shares during the last quarter. Conning Inc. acquired a new stake in shares of Canon during the first quarter worth approximately $313,000. Finally, UBS Group AG increased its stake in shares of Canon by 4.2% in the first quarter. UBS Group AG now owns 26,927 shares of the technology company’s stock worth $842,000 after buying an additional 1,082 shares during the last quarter. 1.40% of the stock is owned by institutional investors.
Shares of Canon, Inc. (CAJ) opened at 35.14 on Friday. Canon, Inc. has a 12 month low of $27.76 and a 12 month high of $35.91. The company’s 50 day moving average price is $34.34 and its 200-day moving average price is $32.63. The stock has a market capitalization of $37.94 billion, a P/E ratio of 21.89 and a beta of 0.41.
Canon (NYSE:CAJ) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Canon had a net margin of 5.17% and a return on equity of 6.48%. The company had revenue of $8.86 billion during the quarter, compared to analyst estimates of $9.40 billion. Equities analysts predict that Canon, Inc. will post $1.64 earnings per share for the current year.
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CAJ has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Canon from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub raised Canon from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.00.
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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