Wheatland Advisors Inc. Reduces Position in Canon Inc (NYSE:CAJ)

Wheatland Advisors Inc. decreased its stake in shares of Canon Inc (NYSE:CAJ) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,900 shares of the technology company’s stock after selling 600 shares during the quarter. Wheatland Advisors Inc.’s holdings in Canon were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. acquired a new stake in shares of Canon during the first quarter worth $26,000. Cornerstone Advisors Inc. boosted its holdings in shares of Canon by 46.8% during the first quarter. Cornerstone Advisors Inc. now owns 1,571 shares of the technology company’s stock worth $46,000 after purchasing an additional 501 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Canon by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,659 shares of the technology company’s stock worth $48,000 after purchasing an additional 553 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Canon by 177.8% during the first quarter. Private Capital Group LLC now owns 2,100 shares of the technology company’s stock worth $61,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Canon by 88.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,356 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,577 shares during the last quarter. 1.27% of the stock is owned by institutional investors.

CAJ has been the topic of a number of research analyst reports. ValuEngine upgraded Canon from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Zacks Investment Research cut Canon from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Canon has a consensus rating of “Hold”.

Canon stock traded down $0.19 during midday trading on Friday, reaching $25.52. The stock had a trading volume of 370,021 shares, compared to its average volume of 368,891. Canon Inc has a twelve month low of $25.49 and a twelve month high of $32.27. The stock has a market capitalization of $27.76 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 3.70 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.26 and a current ratio of 1.90. The stock’s 50-day simple moving average is $27.69 and its 200 day simple moving average is $28.49.

Canon (NYSE:CAJ) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). Canon had a net margin of 4.88% and a return on equity of 6.07%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.44 billion. Equities analysts predict that Canon Inc will post 1.55 earnings per share for the current fiscal year.

Canon Profile

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 through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

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Institutional Ownership by Quarter for Canon (NYSE:CAJ)

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