97,031 Shares in Canon Inc. (NYSE:CAJ) Acquired by Manning & Napier Group LLC

Manning & Napier Group LLC purchased a new position in Canon Inc. (NYSE:CAJGet Rating) in the second quarter, Holdings Channel reports. The fund purchased 97,031 shares of the technology company’s stock, valued at approximately $2,203,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Canon by 6.6% in the first quarter. Bank of America Corp DE now owns 100,047 shares of the technology company’s stock worth $2,432,000 after acquiring an additional 6,174 shares during the last quarter. Royal Bank of Canada lifted its stake in Canon by 156.7% in the first quarter. Royal Bank of Canada now owns 4,659 shares of the technology company’s stock worth $113,000 after acquiring an additional 2,844 shares during the last quarter. Eaton Vance Management lifted its position in shares of Canon by 12.4% during the 1st quarter. Eaton Vance Management now owns 15,276 shares of the technology company’s stock worth $371,000 after buying an additional 1,685 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Canon by 59.7% during the 1st quarter. Captrust Financial Advisors now owns 1,530 shares of the technology company’s stock worth $37,000 after buying an additional 572 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of Canon by 10.1% during the 1st quarter. Wetherby Asset Management Inc. now owns 15,778 shares of the technology company’s stock worth $384,000 after buying an additional 1,441 shares during the last quarter. Hedge funds and other institutional investors own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Canon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 11th.

Canon Stock Down 1.2 %

Shares of NYSE:CAJ opened at $22.71 on Thursday. The company has a market capitalization of $23.75 billion, a PE ratio of 13.52, a P/E/G ratio of 11.52 and a beta of 0.40. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. Canon Inc. has a twelve month low of $21.00 and a twelve month high of $25.79. The firm has a 50 day simple moving average of $23.89 and a 200-day simple moving average of $23.92.

Canon Profile

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Canon Inc, together with its subsidiaries, 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: Printing Business Unit, Imaging Business Unit, Medical Business Unit, and Industrial and Others Business Unit.

Further Reading

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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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