Shares of Canon Inc. (NYSE:CAJ) gapped up prior to trading on Monday . The stock had previously closed at $27.98, but opened at $28.19. Canon shares last traded at $28.64, with a volume of 203,040 shares traded.

A number of research firms recently weighed in on CAJ. Zacks Investment Research upgraded Canon from a “sell” rating to a “hold” rating in a research report on Monday, March 28th. TheStreet upgraded Canon from a “hold” rating to a “buy” rating in a research report on Thursday, March 31st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $33.00.

The firm’s 50 day moving average is $28.71 and its 200 day moving average is $28.82. The company has a market capitalization of $31.28 billion and a PE ratio of 14.76.

Other hedge funds have added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Canon by 13.3% in the fourth quarter. First Trust Advisors LP now owns 216,375 shares of the company’s stock valued at $6,519,000 after buying an additional 25,438 shares in the last quarter. LSV Asset Management boosted its stake in Canon by 7.6% in the fourth quarter. LSV Asset Management now owns 81,100 shares of the company’s stock valued at $2,443,000 after buying an additional 5,700 shares in the last quarter. Oxford Asset Management boosted its stake in Canon by 2.8% in the fourth quarter. Oxford Asset Management now owns 37,037 shares of the company’s stock valued at $1,119,000 after buying an additional 1,017 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Canon by 1,148.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 123,085 shares of the company’s stock valued at $3,709,000 after buying an additional 113,227 shares in the last quarter. Finally, Comerica Bank boosted its stake in Canon by 3.8% in the fourth quarter. Comerica Bank now owns 73,030 shares of the company’s stock valued at $2,048,000 after buying an additional 2,653 shares in the last quarter.

Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. The Company operates in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.

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