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

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Canon from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. TheStreet upgraded shares of Canon from a “hold” rating to a “buy” rating in a report on Thursday, March 31st. Finally, Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.00.

The stock has a market capitalization of $30.77 billion and a price-to-earnings ratio of 14.73. The firm has a 50-day moving average price of $28.72 and a 200 day moving average price of $28.80.

A number of hedge funds have recently bought and sold shares of CAJ. Oxford Asset Management raised its stake in Canon by 2.8% in the fourth quarter. Oxford Asset Management now owns 37,037 shares of the company’s stock worth $1,119,000 after buying an additional 1,017 shares during the period. Comerica Bank raised its stake in Canon by 3.8% in the fourth quarter. Comerica Bank now owns 73,030 shares of the company’s stock worth $2,048,000 after buying an additional 2,653 shares during the period. LSV Asset Management raised its stake in Canon by 7.6% in the fourth quarter. LSV Asset Management now owns 81,100 shares of the company’s stock worth $2,443,000 after buying an additional 5,700 shares during the period. PNC Financial Services Group Inc. raised 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 worth $3,709,000 after buying an additional 113,227 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Canon by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 178,322 shares of the company’s stock worth $5,373,000 after buying an additional 4,321 shares during the period.

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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