Bank of New York Mellon Corp cut its holdings in Canon Inc (NYSE:CAJ) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,305 shares of the technology company’s stock after selling 3,725 shares during the period. Bank of New York Mellon Corp’s holdings in Canon were worth $762,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CAJ. JPMorgan Chase & Co. raised its stake in Canon by 6,464.8% in the first quarter. JPMorgan Chase & Co. now owns 23,305 shares of the technology company’s stock valued at $849,000 after buying an additional 22,950 shares in the last quarter. Sei Investments Co. raised its stake in Canon by 641.1% in the first quarter. Sei Investments Co. now owns 53,802 shares of the technology company’s stock valued at $1,962,000 after buying an additional 46,542 shares in the last quarter. Stifel Financial Corp raised its stake in Canon by 21.5% in the first quarter. Stifel Financial Corp now owns 27,468 shares of the technology company’s stock valued at $1,008,000 after buying an additional 4,860 shares in the last quarter. UBS Group AG raised its stake in Canon by 1.4% in the first quarter. UBS Group AG now owns 142,500 shares of the technology company’s stock valued at $5,194,000 after buying an additional 1,961 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in Canon in the first quarter valued at $473,000. Institutional investors own 1.65% of the company’s stock.
A number of analysts have weighed in on the company. Goldman Sachs Group cut Canon from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research cut Canon from a “hold” rating to a “strong sell” rating in a research note on Monday, July 30th. Finally, JPMorgan Chase & Co. cut Canon from an “overweight” rating to a “neutral” rating in a research note on Monday, June 25th.
Canon (NYSE:CAJ) last issued its quarterly earnings data on Thursday, July 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The company 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%. Analysts predict that Canon Inc will post 2.28 earnings per share for the current year.
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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