Park Avenue Securities LLC Cuts Stock Holdings in Canon Inc. (NYSE:CAJ)

Park Avenue Securities LLC cut its stake in shares of Canon Inc. (NYSE:CAJGet Rating) by 3.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,287 shares of the technology company’s stock after selling 489 shares during the quarter. Park Avenue Securities LLC’s holdings in Canon were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in Canon during the second quarter valued at about $4,289,000. Captrust Financial Advisors increased its position in 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 purchasing an additional 572 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Canon by 40.9% in the second quarter. Rosenberg Matthew Hamilton now owns 2,156 shares of the technology company’s stock valued at $50,000 after buying an additional 626 shares during the period. Wipfli Financial Advisors LLC acquired a new position in Canon during the third quarter valued at approximately $70,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Canon during the second quarter worth approximately $77,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

Canon Stock Performance

NYSE:CAJ opened at $22.33 on Monday. The firm has a 50-day moving average of $22.32 and a two-hundred day moving average of $22.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.71 and a quick ratio of 1.05. The stock has a market cap of $23.35 billion, a P/E ratio of 13.78, a PEG ratio of 12.04 and a beta of 0.44. Canon Inc. has a 1-year low of $20.84 and a 1-year high of $25.79.

Canon (NYSE:CAJGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Canon had a net margin of 5.72% and a return on equity of 6.37%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $7.80 billion. On average, research analysts expect that Canon Inc. will post 1.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAJ has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Canon from an “overweight” rating to a “neutral” rating in a report on Friday, January 13th. lowered Canon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 22nd. Macquarie lowered Canon from an “outperform” rating to a “neutral” rating in a research report on Thursday, November 24th. Finally, TheStreet downgraded shares of Canon from a “b” rating to a “c+” rating in a research report on Monday, December 5th.

About Canon

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Canon, Inc engages in the development, manufacture, and sale of office multifunction devices, copying machines, printers, cameras, and lithography equipment. It operates through the following segments: Office Business Unit (BU), Imaging Systems, Medical Systems and Others. The Office BU segment offers MFDs, printers, copying machines for personal and office use, and production print products for print professionals.

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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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