Conning Inc. acquired a new stake in shares of Canon Inc. (NYSE:CAJ) during the second quarter, Holdings Channel reports. The institutional investor acquired 127,300 shares of the company’s stock, valued at approximately $3,615,000.
A number of other institutional investors have also recently bought and sold shares of the stock. HBK Investments L P purchased a new position in Canon during the first quarter valued at approximately $349,000. Goldman Sachs Group Inc. boosted its stake in shares of Canon by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 288,474 shares of the company’s stock worth $8,603,000 after buying an additional 79,741 shares during the last quarter. Private Bank & Trust Co. acquired a new stake in shares of Canon during the second quarter worth about $214,000. Commonwealth Equity Services Inc acquired a new stake in shares of Canon during the first quarter worth about $251,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Canon by 11.9% in the first quarter. Envestnet Asset Management Inc. now owns 48,826 shares of the company’s stock worth $1,456,000 after buying an additional 5,173 shares during the last quarter. Institutional investors and hedge funds own 1.57% of the company’s stock.
Shares of Canon Inc. (NYSE:CAJ) traded up 0.83% during midday trading on Thursday, reaching $29.29. 125,379 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $28.72 and a 200-day moving average of $28.81. Canon Inc. has a one year low of $26.60 and a one year high of $31.96. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 16.44 and a beta of 0.50.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Canon from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. Credit Agricole SA cut shares of Canon from a “buy” rating to an “underperform” rating in a report on Friday, July 15th. Finally, TheStreet raised shares of Canon from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Canon currently has a consensus rating of “Hold” and a consensus target price of $33.00.
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. The Company operates in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.
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