Canon Inc. (NYSE:CAJ) shares fell 2.4% during mid-day trading on Friday . The stock traded as low as $28.01 and last traded at $28.09, with a volume of 553,206 shares. The stock had previously closed at $28.79.

Several research firms have issued reports on CAJ. Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a research report on Friday. Zacks Investment Research upgraded shares of Canon from a “sell” rating to a “hold” rating in a research report on Monday, March 28th. Finally, TheStreet upgraded shares of Canon from a “hold” rating to a “buy” rating in a research report on Thursday, March 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.00.

The stock has a market cap of $30.77 billion and a PE ratio of 14.48. The firm has a 50-day moving average of $28.73 and a 200-day moving average of $28.81.

A number of hedge funds have recently modified their holdings of CAJ. LSV Asset Management boosted its stake in shares of 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. PNC Financial Services Group Inc. boosted its stake in shares of 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. Comerica Bank boosted its stake in shares of 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. First Trust Advisors LP boosted its stake in shares of 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. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Canon by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 178,322 shares of the company’s stock valued at $5,373,000 after buying an additional 4,321 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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