Canon Inc. (NYSE:CAJ)’s share price gapped down before the market opened on Friday . The stock had previously closed at $27.31, but opened at $27.69. Canon shares last traded at $28.28, with a volume of 199,008 shares changing hands.

CAJ has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Canon from a “hold” rating to a “sell” rating in a report on Thursday. 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, July 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.

The firm has a 50 day moving average price of $28.45 and a 200-day moving average price of $28.69. The firm has a market cap of $30.87 billion and a P/E ratio of 16.34.

Other hedge funds have modified their holdings of the company. Comerica Bank raised 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 worth $2,048,000 after buying an additional 2,653 shares during the period. Dimensional Fund Advisors LP raised 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 worth $5,373,000 after buying an additional 4,321 shares during the period. First Trust Advisors LP raised 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 worth $6,519,000 after buying an additional 25,438 shares during the period. Finally, US Bancorp DE raised its stake in shares of Canon by 9.2% in the fourth quarter. US Bancorp DE now owns 467,404 shares of the company’s stock worth $14,082,000 after buying an additional 39,397 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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