UBS Asset Management Americas Inc. Has $4,615,000 Stake in Canon Inc. (CAJ)
UBS Asset Management Americas Inc. reduced its position in Canon Inc. (NYSE:CAJ) by 10.8% during the second quarter, Holdings Channel reports. The fund owned 161,320 shares of the company’s stock after selling 19,533 shares during the period. UBS Asset Management Americas Inc.’s holdings in Canon were worth $4,615,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. HBK Investments L P bought a new stake in shares of Canon during the first quarter worth approximately $349,000. Goldman Sachs Group Inc. boosted its stake in shares of Canon by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 288,474 shares of the company’s stock worth $8,603,000 after buying an additional 79,741 shares during the last quarter. Private Bank & Trust Co. bought a new stake in shares of Canon during the second quarter worth approximately $214,000. Commonwealth Equity Services Inc bought a new stake in shares of Canon during the first quarter worth approximately $251,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Canon by 11.9% in the first quarter. Envestnet Asset Management Inc. now owns 48,826 shares of the company’s stock worth $1,456,000 after buying an additional 5,173 shares during the last quarter. Institutional investors and hedge funds own 1.57% of the company’s stock.
Canon Inc. (NYSE:CAJ) traded down 0.21% during trading on Friday, hitting $29.09. The stock had a trading volume of 98,178 shares. The firm’s 50-day moving average price is $28.80 and its 200-day moving average price is $28.80. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 16.05 and a beta of 0.50. Canon Inc. has a 52-week low of $26.60 and a 52-week high of $31.96.
A number of equities analysts have recently weighed in on the company. TheStreet raised Canon from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Zacks Investment Research lowered Canon from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Finally, Credit Agricole SA lowered Canon from a “buy” rating to an “underperform” rating in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Canon presently has a consensus rating of “Hold” and an average price target of $33.00.
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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