Canon (NYSE:CAJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “

Canon (NYSE CAJ) traded up $0.15 during trading hours on Tuesday, hitting $38.61. The company had a trading volume of 205,035 shares, compared to its average volume of 238,425. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.03. Canon has a 12 month low of $27.76 and a 12 month high of $39.15. The company has a market cap of $42,000.93, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 3.31 and a beta of 0.47.

Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Canon by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 2,188,904 shares of the technology company’s stock worth $74,467,000 after acquiring an additional 9,515 shares during the last quarter. Aperio Group LLC increased its stake in Canon by 2.8% in the 3rd quarter. Aperio Group LLC now owns 1,406,553 shares of the technology company’s stock worth $48,273,000 after acquiring an additional 37,864 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Canon by 13.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 843,481 shares of the technology company’s stock worth $28,948,000 after acquiring an additional 97,986 shares during the last quarter. First Trust Advisors LP increased its stake in Canon by 0.5% in the 3rd quarter. First Trust Advisors LP now owns 590,771 shares of the technology company’s stock worth $20,275,000 after acquiring an additional 3,199 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Canon by 44.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 512,602 shares of the technology company’s stock worth $17,439,000 after acquiring an additional 158,473 shares during the last quarter. Institutional investors own 1.27% of the company’s stock.

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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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