Conning Inc. Reduces Holdings in Canon, Inc. (CAJ)
Conning Inc. cut its position in Canon, Inc. (NYSE:CAJ) by 82.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,275 shares of the technology company’s stock after selling 102,550 shares during the quarter. Conning Inc.’s holdings in Canon were worth $764,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CAJ. Sei Investments Co. raised its position in Canon by 67.5% in the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock valued at $161,000 after purchasing an additional 1,907 shares during the last quarter. Advisor Group Inc. raised its position in Canon by 5.4% in the second quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock valued at $175,000 after purchasing an additional 263 shares during the last quarter. Jarislowsky Fraser Ltd bought a new position in Canon in the second quarter valued at about $204,000. Eqis Capital Management Inc. bought a new position in Canon in the second quarter valued at about $233,000. Finally, Eagle Asset Management Inc. bought a new position in Canon in the second quarter valued at about $276,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.
Several research firms have commented on CAJ. Zacks Investment Research upgraded Canon from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Monday, October 9th. BidaskClub downgraded Canon from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.00.
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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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