Biechele Royce Advisors grew its position in shares of Canon Inc (NYSE:CAJ) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240,249 shares of the technology company’s stock after buying an additional 18,937 shares during the period. Canon comprises 3.0% of Biechele Royce Advisors’ portfolio, making the stock its 17th largest position. Biechele Royce Advisors’ holdings in Canon were worth $4,798,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ellevest Inc. increased its holdings in shares of Canon by 57.8% in the 1st quarter. Ellevest Inc. now owns 2,409 shares of the technology company’s stock valued at $52,000 after acquiring an additional 882 shares during the last quarter. Private Capital Group LLC boosted its holdings in Canon by 95.2% in the first quarter. Private Capital Group LLC now owns 2,912 shares of the technology company’s stock worth $63,000 after purchasing an additional 1,420 shares during the period. Cornerstone Advisors Inc. increased its stake in Canon by 192.0% during the first quarter. Cornerstone Advisors Inc. now owns 3,352 shares of the technology company’s stock valued at $73,000 after purchasing an additional 2,204 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Canon by 47.1% during the first quarter. Royal Bank of Canada now owns 4,268 shares of the technology company’s stock worth $92,000 after purchasing an additional 1,366 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Canon in the 1st quarter worth about $94,000. Institutional investors own 1.18% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Citigroup downgraded shares of Canon from a “buy” rating to a “neutral” rating in a research report on Friday, April 3rd. Zacks Investment Research lowered Canon from a “hold” rating to a “sell” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has an average rating of “Hold”.
CAJ stock traded down $0.95 during mid-day trading on Friday, reaching $16.17. The company had a trading volume of 888,596 shares, compared to its average volume of 518,115. Canon Inc has a one year low of $16.10 and a one year high of $28.41. The stock has a market capitalization of $17.20 billion, a P/E ratio of 26.95, a P/E/G ratio of 22.93 and a beta of 0.54. The company has a quick ratio of 1.14, a current ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $20.02 and its two-hundred day simple moving average is $22.22.
Canon (NYSE:CAJ) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.15). Canon had a net margin of 2.18% and a return on equity of 2.51%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.96 billion. On average, research analysts forecast that Canon Inc will post 0.75 EPS for the current fiscal year.
Canon Company Profile
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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