Wetherby Asset Management Inc. Raises Stake in Canon Inc (CAJ)

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Wetherby Asset Management Inc. grew its holdings in Canon Inc (NYSE:CAJ) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,560 shares of the technology company’s stock after purchasing an additional 618 shares during the period. Wetherby Asset Management Inc.’s holdings in Canon were worth $626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CAJ. Cornerstone Advisors Inc. increased its holdings in shares of Canon by 46.8% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,571 shares of the technology company’s stock valued at $46,000 after purchasing an additional 501 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Canon by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,659 shares of the technology company’s stock valued at $48,000 after purchasing an additional 553 shares during the period. NumerixS Investment Technologies Inc increased its holdings in Canon by 2,000.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the technology company’s stock worth $57,000 after buying an additional 2,000 shares during the last quarter. Lindbrook Capital LLC acquired a new position in Canon in the fourth quarter worth approximately $59,000. Finally, Private Capital Group LLC increased its holdings in Canon by 177.8% in the first quarter. Private Capital Group LLC now owns 2,100 shares of the technology company’s stock worth $61,000 after buying an additional 1,344 shares during the last quarter. Institutional investors own 1.24% of the company’s stock.

A number of equities analysts recently commented on CAJ shares. ValuEngine downgraded Canon from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Morgan Stanley upgraded Canon from an “equal weight” rating to an “overweight” rating in a report on Tuesday, April 16th. Zacks Investment Research downgraded Canon from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Goldman Sachs Group upgraded Canon from a “sell” rating to a “neutral” rating in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold”.

NYSE:CAJ traded down $0.63 during mid-day trading on Monday, reaching $28.11. The stock had a trading volume of 269,129 shares, compared to its average volume of 274,798. Canon Inc has a fifty-two week low of $26.36 and a fifty-two week high of $34.39. The company has a market capitalization of $30.35 billion, a P/E ratio of 13.20, a P/E/G ratio of 3.80 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.92.

Canon (NYSE:CAJ) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). Canon had a return on equity of 7.36% and a net margin of 5.88%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $8.60 billion. As a group, sell-side analysts forecast that Canon Inc will post 1.64 earnings per share for the current fiscal year.

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About Canon

Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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