Bank of New York Mellon Corp Has $1.05 Million Holdings in Canon, Inc. (CAJ)
Bank of New York Mellon Corp raised its holdings in Canon, Inc. (NYSE:CAJ) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,783 shares of the technology company’s stock after buying an additional 220 shares during the quarter. Bank of New York Mellon Corp’s holdings in Canon were worth $1,047,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in Canon by 301.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock valued at $111,000 after buying an additional 2,460 shares during the period. Sei Investments Co. increased its holdings in Canon by 67.5% in the 2nd quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock valued at $161,000 after buying an additional 1,907 shares during the period. Jarislowsky Fraser Ltd bought a new stake in Canon in the 2nd quarter valued at $204,000. Eqis Capital Management Inc. bought a new stake in Canon in the 2nd quarter valued at $233,000. Finally, Wheatland Advisors Inc. increased its holdings in Canon by 7.1% in the 2nd quarter. Wheatland Advisors Inc. now owns 9,000 shares of the technology company’s stock valued at $306,000 after buying an additional 600 shares during the period. 1.20% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Canon, Inc. (CAJ) opened at 35.90 on Tuesday. The company has a market cap of $38.76 billion, a price-to-earnings ratio of 21.92 and a beta of 0.42. The stock has a 50 day moving average of $34.73 and a 200 day moving average of $34.24. Canon, Inc. has a 12-month low of $27.76 and a 12-month high of $35.99.
Canon (NYSE:CAJ) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $9.40 billion. Canon had a return on equity of 6.48% and a net margin of 5.17%. On average, equities analysts expect that Canon, Inc. will post $1.62 earnings per share for the current fiscal year.
CAJ has been the topic of several analyst reports. Zacks Investment Research lowered shares of Canon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub lowered shares of Canon from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Canon presently has an average rating of “Buy” and a consensus price target of $40.00.
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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