Goldman Sachs Group Inc. Grows Stake in Canon, Inc. (NYSE:CAJ)

Goldman Sachs Group Inc. lifted its holdings in shares of Canon, Inc. (NYSE:CAJ) by 15.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 348,220 shares of the technology company’s stock after purchasing an additional 47,722 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Canon were worth $11,847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Macquarie Group Ltd. lifted its position in shares of Canon by 1.2% during the first quarter. Macquarie Group Ltd. now owns 2,179,389 shares of the technology company’s stock worth $68,149,000 after purchasing an additional 26,026 shares in the last quarter. Aperio Group LLC lifted its position in shares of Canon by 2.5% during the second quarter. Aperio Group LLC now owns 1,368,689 shares of the technology company’s stock worth $46,563,000 after purchasing an additional 33,675 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Canon by 25.5% during the first quarter. Renaissance Technologies LLC now owns 989,800 shares of the technology company’s stock worth $30,951,000 after buying an additional 201,000 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Canon by 14.5% during the second quarter. Parametric Portfolio Associates LLC now owns 750,500 shares of the technology company’s stock worth $25,532,000 after buying an additional 94,876 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Canon by 0.4% during the second quarter. First Trust Advisors LP now owns 587,572 shares of the technology company’s stock worth $19,989,000 after buying an additional 2,517 shares during the period. 1.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of Canon, Inc. (NYSE:CAJ) opened at 37.29 on Friday. The stock has a 50 day moving average price of $34.84 and a 200 day moving average price of $34.30. Canon, Inc. has a 12-month low of $27.76 and a 12-month high of $37.38. The firm has a market capitalization of $40.26 billion, a P/E ratio of 22.77 and a beta of 0.42.

Canon (NYSE:CAJ) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Canon had a return on equity of 7.70% and a net margin of 5.91%. Equities analysts anticipate that Canon, Inc. will post $1.62 earnings per share for the current fiscal year.

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A number of analysts recently weighed in on CAJ shares. Zacks Investment Research lowered shares of Canon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub lowered shares of Canon from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Canon presently has an average rating of “Buy” and a consensus price target of $40.00.

Canon Company Profile

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.

Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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