Canon Inc (NYSE:CAJ) Shares Sold by Parametric Portfolio Associates LLC

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Parametric Portfolio Associates LLC lowered its position in Canon Inc (NYSE:CAJ) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,140,580 shares of the technology company’s stock after selling 424,245 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Canon were worth $30,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAJ. Capital Investment Advisory Services LLC raised its position in Canon by 1,466.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 7,830 shares of the technology company’s stock valued at $222,000 after purchasing an additional 7,330 shares during the last quarter. United Capital Financial Advisers LLC raised its position in Canon by 4.7% during the 2nd quarter. United Capital Financial Advisers LLC now owns 406,535 shares of the technology company’s stock worth $11,899,000 after buying an additional 18,340 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Canon by 12.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 75,970 shares of the technology company’s stock worth $2,224,000 after buying an additional 8,235 shares during the last quarter. CWM LLC raised its position in Canon by 38.5% during the 3rd quarter. CWM LLC now owns 238,404 shares of the technology company’s stock worth $6,365,000 after buying an additional 66,282 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Canon by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,328,600 shares of the technology company’s stock worth $68,158,000 after acquiring an additional 126,705 shares during the period. Institutional investors own 1.19% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Canon from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Goldman Sachs Group cut shares of Canon from a “neutral” rating to a “sell” rating in a report on Friday, September 20th.

CAJ opened at $27.69 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.77 and a quick ratio of 1.18. The business has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $27.62. The stock has a market capitalization of $29.40 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.82 and a beta of 0.56. Canon Inc has a 12 month low of $25.49 and a 12 month high of $30.12.

Canon (NYSE:CAJ) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.04 billion. Canon had a return on equity of 5.56% and a net margin of 4.41%. Research analysts anticipate that Canon Inc will post 1.28 EPS for the current year.

About Canon

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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