Park Avenue Securities LLC cut its stake in shares of Canon Inc. (NYSE:CAJ – Get 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.
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. StockNews.com 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
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Canon (CAJ)
- CVS Health is Growing into an Integrated Healthcare Organization
- NVIDIA Outlook Improving: Watchlist Candidate for 2023
- Is C3.ai Stock a ChatGPT Artificial Intelligence Play?
- Which Wireless Stock Should You Buy in 2023?
- Is Virgin Galactic Stock Preparing for Lift-Off?
Want to see what other hedge funds are holding CAJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canon Inc. (NYSE:CAJ – Get Rating).
Receive News & Ratings for Canon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon and related companies with MarketBeat.com's FREE daily email newsletter.