Canon, Inc. (CAJ) Shares Sold by US Bancorp DE
US Bancorp DE reduced its position in shares of Canon, Inc. (NYSE:CAJ) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 714,087 shares of the technology company’s stock after selling 2,654 shares during the period. US Bancorp DE owned approximately 0.07% of Canon worth $24,294,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAJ. LSV Asset Management boosted its position in Canon by 1.7% in the first quarter. LSV Asset Management now owns 290,900 shares of the technology company’s stock worth $9,096,000 after buying an additional 5,000 shares in the last quarter. Wheatland Advisors Inc. purchased a new position in Canon during the first quarter worth approximately $263,000. Wells Fargo & Company MN boosted its position in Canon by 498.0% in the first quarter. Wells Fargo & Company MN now owns 86,796 shares of the technology company’s stock worth $2,714,000 after buying an additional 72,282 shares in the last quarter. Greenleaf Trust purchased a new position in Canon during the first quarter worth approximately $534,000. Finally, Wetherby Asset Management Inc. boosted its position in Canon by 11.5% in the first quarter. Wetherby Asset Management Inc. now owns 20,149 shares of the technology company’s stock worth $630,000 after buying an additional 2,071 shares in the last quarter. 1.52% of the stock is currently owned by institutional investors and hedge funds.
Canon, Inc. (NYSE:CAJ) traded down 0.23% on Friday, reaching $34.53. The company had a trading volume of 234,787 shares. The stock has a market capitalization of $37.71 billion, a PE ratio of 24.05 and a beta of 0.40. The stock’s 50 day moving average price is $34.53 and its 200-day moving average price is $31.83. Canon, Inc. has a 12-month low of $27.18 and a 12-month high of $35.91.
Canon (NYSE:CAJ) last announced its quarterly earnings results on Wednesday, April 26th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.22. The company had revenue of $8.69 billion for the quarter, compared to the consensus estimate of $8.04 billion. Canon had a net margin of 4.95% and a return on equity of 6.11%. Equities analysts expect that Canon, Inc. will post $1.48 earnings per share for the current fiscal year.
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A number of research firms recently commented on CAJ. BidaskClub cut Canon from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Canon from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.00.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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