Goldman Sachs Group Inc. increased its stake in shares of Canon, Inc. (NYSE:CAJ) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,498 shares of the technology company’s stock after buying an additional 20,831 shares during the period. Goldman Sachs Group Inc.’s holdings in Canon were worth $9,397,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in Canon by 1.2% in the first quarter. Macquarie Group Ltd. now owns 2,179,389 shares of the technology company’s stock valued at $68,149,000 after buying an additional 26,026 shares during the period. Karp Capital Management Corp acquired a new position in Canon during the first quarter valued at approximately $41,746,000. Mondrian Investment Partners LTD raised its position in Canon by 31.8% in the first quarter. Mondrian Investment Partners LTD now owns 1,238,737 shares of the technology company’s stock valued at $38,401,000 after buying an additional 299,000 shares in the last quarter. Renaissance Technologies LLC raised its position in Canon by 25.5% in the first quarter. Renaissance Technologies LLC now owns 989,800 shares of the technology company’s stock valued at $30,951,000 after buying an additional 201,000 shares in the last quarter. Finally, Brandes Investment Partners LP raised its position in Canon by 2.9% in the first quarter. Brandes Investment Partners LP now owns 968,618 shares of the technology company’s stock valued at $30,289,000 after buying an additional 26,898 shares in the last quarter. Hedge funds and other institutional investors own 1.52% of the company’s stock.
Canon, Inc. (NYSE CAJ) opened at 34.04 on Thursday. The company’s 50 day moving average is $34.53 and its 200 day moving average is $31.81. The company has a market cap of $37.17 billion, a price-to-earnings ratio of 23.70 and a beta of 0.40. Canon, Inc. has a 12-month low of $27.18 and a 12-month high of $35.91.
Canon (NYSE:CAJ) last announced its earnings results on Wednesday, April 26th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.22. Canon had a net margin of 4.95% and a return on equity of 6.11%. The business had revenue of $8.69 billion for the quarter, compared to the consensus estimate of $8.04 billion. Analysts forecast that Canon, Inc. will post $1.48 earnings per share for the current fiscal year.
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CAJ has been the topic of several recent research reports. Zacks Investment Research lowered shares of Canon from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub lowered shares of Canon from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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