Shares of Canon Inc. (NYSE:CAJ) gapped up prior to trading on Wednesday . The stock had previously closed at $28.68, but opened at $28.69. Canon shares last traded at $28.83, with a volume of 50,848 shares.

CAJ has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Canon from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.00.

The firm has a market capitalization of $31.50 billion and a PE ratio of 15.97. The stock’s 50-day moving average is $28.33 and its 200-day moving average is $28.75.

A hedge fund recently raised its stake in Canon stock. US Bancorp DE raised its stake in shares of Canon Inc. (NYSE:CAJ) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 467,404 shares of the company’s stock after buying an additional 39,397 shares during the period. US Bancorp DE’s holdings in Canon were worth $14,082,000 at the end of the most recent 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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