Bluestein R H & Co. Continues to Hold Stake in Canon, Inc. (CAJ)

Bluestein R H & Co. maintained its stake in shares of Canon, Inc. (NYSE:CAJ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the technology company’s stock at the end of the first quarter. Bluestein R H & Co.’s holdings in Canon were worth $250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Canon by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock valued at $3,880,000 after buying an additional 2,962 shares during the last quarter. Conning Inc. acquired a new stake in shares of Canon during the first quarter worth approximately $313,000. LSV Asset Management raised its stake in shares of Canon by 1.7% in the first quarter. LSV Asset Management now owns 290,900 shares of the technology company’s stock worth $9,096,000 after buying an additional 5,000 shares during the period. CIBC World Markets Inc. raised its stake in shares of Canon by 1.8% in the first quarter. CIBC World Markets Inc. now owns 172,924 shares of the technology company’s stock valued at $5,407,000 after buying an additional 3,132 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in shares of Canon by 7.1% in the first quarter. Manning & Napier Advisors LLC now owns 152,984 shares of the technology company’s stock valued at $4,783,000 after buying an additional 10,126 shares during the last quarter. 1.52% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Canon (NYSE:CAJ)

Canon, Inc. (NYSE:CAJ) traded down 0.57% during midday trading on Wednesday, reaching $35.05. The company’s stock had a trading volume of 207,599 shares. The stock has a market cap of $38.28 billion, a price-to-earnings ratio of 23.68 and a beta of 0.39. The stock’s 50 day moving average price is $34.48 and its 200-day moving average price is $31.12. Canon, Inc. has a one year low of $27.18 and a one year high of $35.91.

Canon (NYSE:CAJ) last announced its quarterly earnings results on Wednesday, April 26th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.22. Canon had a net margin of 4.95% and a return on equity of 6.11%. The company had revenue of $8.69 billion for the quarter, compared to the consensus estimate of $8.04 billion. On average, analysts forecast that Canon, Inc. will post $1.50 EPS for the current fiscal year.

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Several equities analysts recently commented on the company. BidaskClub cut Canon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research upgraded Canon from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a report on Tuesday, April 18th. TheStreet raised Canon from a “c+” rating to a “b” rating in a research report on Thursday, March 16th. Finally, J P Morgan Chase & Co raised Canon from a “neutral” rating to an “overweight” rating in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Canon presently has a consensus rating of “Hold” and a consensus price target of $36.00.

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. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.

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