Lourd Capital LLC acquired a new position in Canon Inc (NYSE:CAJ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,516 shares of the technology company’s stock, valued at approximately $270,000.
Other hedge funds have also bought and sold shares of the company. Guggenheim Capital LLC boosted its position in Canon by 17.5% in the first quarter. Guggenheim Capital LLC now owns 133,527 shares of the technology company’s stock worth $4,867,000 after purchasing an additional 19,841 shares during the last quarter. Stifel Financial Corp boosted its position in Canon by 21.5% in the first quarter. Stifel Financial Corp now owns 27,468 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 4,860 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in Canon in the second quarter worth $112,000. Northern Trust Corp boosted its position in Canon by 0.5% in the first quarter. Northern Trust Corp now owns 968,677 shares of the technology company’s stock worth $35,308,000 after purchasing an additional 4,648 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Canon during the 1st quarter valued at $473,000. 1.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CAJ opened at $30.86 on Friday. Canon Inc has a one year low of $30.14 and a one year high of $40.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.46 and a current ratio of 2.03. The firm has a market cap of $34.56 billion, a PE ratio of 14.35, a PEG ratio of 1.74 and a beta of 0.68.
Canon (NYSE:CAJ) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Canon had a return on equity of 8.96% and a net margin of 6.19%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.09 billion. As a group, research analysts expect that Canon Inc will post 2.28 EPS for the current fiscal year.
A number of research analysts have recently commented on CAJ shares. JPMorgan Chase & Co. cut Canon from a “neutral” rating to an “underweight” rating in a research report on Thursday, September 13th. Zacks Investment Research raised Canon from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. ValuEngine cut Canon from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Finally, Goldman Sachs Group cut Canon from a “neutral” rating to a “sell” rating in a research report on Monday, July 2nd.
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 in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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