Lourd Capital LLC acquired a new position in shares of Canon Inc (NYSE:CAJ) during the third quarter, HoldingsChannel reports. The fund acquired 8,516 shares of the technology company’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Guggenheim Capital LLC lifted its holdings in Canon by 17.5% during the 1st quarter. Guggenheim Capital LLC now owns 133,527 shares of the technology company’s stock worth $4,867,000 after purchasing an additional 19,841 shares in the last quarter. Stifel Financial Corp lifted its holdings in Canon by 21.5% during the 1st quarter. Stifel Financial Corp now owns 27,468 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 4,860 shares in the last quarter. Vigilant Capital Management LLC purchased a new stake in Canon during the 2nd quarter worth about $112,000. Northern Trust Corp lifted its holdings in Canon by 0.5% during the 1st quarter. Northern Trust Corp now owns 968,677 shares of the technology company’s stock worth $35,308,000 after purchasing an additional 4,648 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in Canon during the 1st quarter worth about $473,000. 1.65% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on CAJ shares. JPMorgan Chase & Co. cut Canon from a “neutral” rating to an “underweight” rating in a report on Thursday, September 13th. Zacks Investment Research upgraded Canon from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. ValuEngine lowered Canon from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Finally, Goldman Sachs Group lowered Canon from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd.

Shares of NYSE CAJ opened at $30.86 on Friday. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.46 and a current ratio of 2.03. Canon Inc has a twelve month low of $30.14 and a twelve month high of $40.67.

Canon (NYSE:CAJ) last announced its earnings results on Thursday, July 26th. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.09 billion. Canon had a return on equity of 8.96% and a net margin of 6.19%. Research analysts forecast that Canon Inc will post 2.28 EPS for the current fiscal year.

Canon 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 in 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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