Canon, Inc. (CAJ) Shares Sold by Comerica Bank
Comerica Bank lowered its stake in shares of Canon, Inc. (NYSE:CAJ) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,266 shares of the technology company’s stock after selling 5,253 shares during the quarter. Comerica Bank’s holdings in Canon were worth $2,482,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in CAJ. Acadian Asset Management LLC acquired a new stake in Canon during the first quarter worth approximately $420,000. Wells Fargo & Company MN increased its holdings in shares of Canon by 498.0% in the 1st quarter. Wells Fargo & Company MN now owns 86,796 shares of the technology company’s stock valued at $2,714,000 after acquiring an additional 72,282 shares during the period. LSV Asset Management increased its holdings in shares of Canon by 1.7% in the 1st quarter. LSV Asset Management now owns 290,900 shares of the technology company’s stock valued at $9,096,000 after acquiring an additional 5,000 shares during the period. First Trust Advisors LP increased its holdings in shares of Canon by 8.9% in the 1st quarter. First Trust Advisors LP now owns 585,055 shares of the technology company’s stock valued at $18,295,000 after acquiring an additional 47,908 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Canon by 12.9% in the 1st quarter. Bank of New York Mellon Corp now owns 30,563 shares of the technology company’s stock valued at $956,000 after acquiring an additional 3,481 shares during the period. 1.21% of the stock is currently owned by institutional investors.
Separately, BidaskClub cut shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.00.
Canon, Inc. (NYSE:CAJ) opened at 34.93 on Thursday. The stock has a 50 day moving average of $34.84 and a 200-day moving average of $33.22. Canon, Inc. has a one year low of $27.76 and a one year high of $35.91. The firm has a market capitalization of $37.72 billion, a PE ratio of 21.55 and a beta of 0.41.
Canon (NYSE:CAJ) last issued its earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Canon had a return on equity of 6.48% and a net margin of 5.17%. The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $9.40 billion. On average, equities analysts predict that Canon, Inc. will post $1.65 EPS for the current year.
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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