CIBC World Markets Inc. grew its holdings in Canon Inc. (NYSE:CAJ) by 548.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,152 shares of the technology company’s stock after buying an additional 63,570 shares during the period. CIBC World Markets Inc.’s holdings in Canon were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of Canon by 333,303.5% in the 1st quarter. BlackRock Inc. now owns 753,492 shares of the technology company’s stock worth $17,157,000 after buying an additional 753,266 shares in the last quarter. The PNC Financial Services Group Inc. grew its stake in shares of Canon by 5.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 26,755 shares of the technology company’s stock worth $609,000 after buying an additional 1,461 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Canon in the 1st quarter worth $255,000. Natixis Advisors L.P. purchased a new position in shares of Canon in the 1st quarter worth $1,844,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Canon by 44.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 165,193 shares of the technology company’s stock worth $3,761,000 after buying an additional 50,663 shares in the last quarter. 1.29% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Canon from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research note on Monday, April 12th. Mizuho cut shares of Canon from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 9th.
CAJ stock opened at $23.97 on Friday. Canon Inc. has a 12 month low of $15.46 and a 12 month high of $25.94. The business’s 50-day moving average price is $23.65. The stock has a market cap of $25.50 billion, a PE ratio of 24.97, a PEG ratio of 17.34 and a beta of 0.39.
Canon (NYSE:CAJ) last released its quarterly earnings results on Sunday, April 25th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.13. Canon had a net margin of 3.29% and a return on equity of 3.90%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.96 billion. As a group, analysts anticipate that Canon Inc. will post 1.37 EPS for the current year.
Canon Company 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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