Macquarie Group Ltd. cut its position in shares of Canon, Inc. (NYSE:CAJ) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,167,456 shares of the technology company’s stock after selling 21,448 shares during the period. Macquarie Group Ltd. owned about 0.20% of Canon worth $74,387,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Canon by 67.5% during 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 period. Advisor Group Inc. increased its position in shares of Canon by 5.4% during 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 period. Eqis Capital Management Inc. bought a new stake in shares of Canon during the second quarter valued at approximately $233,000. FDx Advisors Inc. bought a new stake in shares of Canon during the third quarter valued at approximately $236,000. Finally, Advisor Partners LLC bought a new stake in shares of Canon during the third quarter valued at approximately $250,000. Institutional investors and hedge funds own 1.28% of the company’s stock.
Canon, Inc. (NYSE CAJ) traded down $0.18 during trading on Monday, reaching $37.78. The company’s stock had a trading volume of 184,705 shares, compared to its average volume of 244,100. The company has a current ratio of 2.03, a quick ratio of 1.44 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $41,454.90, a price-to-earnings ratio of 21.09, a P/E/G ratio of 3.27 and a beta of 0.47. Canon, Inc. has a one year low of $27.76 and a one year high of $39.15.
Several analysts recently commented on the company. BidaskClub lowered Canon from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised Canon from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Monday, October 9th.
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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.
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