World Asset Management Inc Sells 894 Shares of Canon Inc (NYSE:CAJ)

World Asset Management Inc lowered its holdings in shares of Canon Inc (NYSE:CAJ) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,291 shares of the technology company’s stock after selling 894 shares during the period. World Asset Management Inc’s holdings in Canon were worth $565,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Canon by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 164,777 shares of the technology company’s stock valued at $4,548,000 after purchasing an additional 2,158 shares in the last quarter. Bank of America Corp DE increased its holdings in Canon by 14.0% during the 4th quarter. Bank of America Corp DE now owns 90,281 shares of the technology company’s stock valued at $2,491,000 after purchasing an additional 11,087 shares in the last quarter. Manning & Napier Group LLC increased its holdings in Canon by 6.7% during the 1st quarter. Manning & Napier Group LLC now owns 75,030 shares of the technology company’s stock valued at $2,178,000 after purchasing an additional 4,685 shares in the last quarter. Bonness Enterprises Inc. acquired a new stake in Canon during the 1st quarter valued at $950,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Canon during the 1st quarter valued at $761,000. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on CAJ. Zacks Investment Research raised Canon from a “sell” rating to a “hold” rating in a research note on Tuesday, June 25th. Morgan Stanley raised Canon from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, April 16th. Finally, ValuEngine raised Canon from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Canon presently has an average rating of “Hold”.

Shares of NYSE CAJ traded down $0.04 during midday trading on Friday, hitting $27.23. The stock had a trading volume of 335,163 shares, compared to its average volume of 280,787. The stock has a 50-day simple moving average of $29.01. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 3.92 and a beta of 0.51. Canon Inc has a fifty-two week low of $26.36 and a fifty-two week high of $32.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.26 and a current ratio of 1.90.

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