Wetherby Asset Management Inc. raised its position in Canon, Inc. (NYSE:CAJ) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 21,976 shares of the technology company’s stock after buying an additional 1,827 shares during the period. Wetherby Asset Management Inc.’s holdings in Canon were worth $748,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in Canon by 301.8% in the first quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock worth $111,000 after buying an additional 2,460 shares in the last quarter. Sei Investments Co. raised its position in Canon by 67.5% in the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after buying an additional 1,907 shares in the last quarter. Jarislowsky Fraser Ltd acquired a new position in Canon during the second quarter worth approximately $204,000. Eqis Capital Management Inc. acquired a new position in Canon during the second quarter worth approximately $233,000. Finally, Signaturefd LLC acquired a new position in Canon during the first quarter worth approximately $247,000. 1.50% of the stock is currently owned by institutional investors and hedge funds.

Canon, Inc. (NYSE CAJ) opened at 34.80 on Friday. Canon, Inc. has a 52-week low of $27.76 and a 52-week high of $35.91. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 21.68 and a beta of 0.41. The company’s 50-day moving average is $34.30 and its 200-day moving average is $32.44.

Canon (NYSE:CAJ) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $9.40 billion. Canon had a net margin of 5.17% and a return on equity of 6.48%. On average, analysts expect that Canon, Inc. will post $1.64 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on the stock. BidaskClub lowered shares of Canon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Canon from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Canon has a consensus 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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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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