Boston Advisors LLC reduced its stake in Canon Inc. (NYSE:CAJ) by 51.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,063 shares of the company’s stock after selling 12,600 shares during the period. Boston Advisors LLC’s holdings in Canon were worth $345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HBK Investments L P bought a new position in shares of Canon during the first quarter valued at about $349,000. Goldman Sachs Group Inc. raised its position 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 valued at $8,603,000 after buying an additional 79,741 shares during the period. Private Bank & Trust Co. bought a new position in shares of Canon during the second quarter valued at about $214,000. Commonwealth Equity Services Inc bought a new position in shares of Canon during the first quarter valued at about $251,000. Finally, Envestnet Asset Management Inc. raised its position 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 valued at $1,456,000 after buying an additional 5,173 shares during the period. Institutional investors own 1.57% of the company’s stock.
Shares of Canon Inc. (NYSE:CAJ) traded up 0.59% during trading on Friday, hitting $29.02. 120,388 shares of the stock traded hands. The firm’s 50-day moving average price is $28.82 and its 200-day moving average price is $28.75. Canon Inc. has a 12 month low of $26.60 and a 12 month high of $31.96. The stock has a market cap of $31.69 billion, a PE ratio of 16.08 and a beta of 0.51.
Several analysts have weighed in on CAJ shares. Zacks Investment Research downgraded shares of Canon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 21st. TheStreet raised shares of Canon from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Credit Agricole SA downgraded shares of 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, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average 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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