World Asset Management Inc boosted its position in Canon, Inc. (NYSE:CAJ) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,199 shares of the company’s stock after buying an additional 6,647 shares during the period. World Asset Management Inc’s holdings in Canon were worth $2,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Canon by 16.9% in the second quarter. US Bancorp DE now owns 661,606 shares of the company’s stock worth $18,929,000 after buying an additional 95,561 shares during the last quarter. FMR LLC raised its position in Canon by 28.4% in the second quarter. FMR LLC now owns 464,585 shares of the company’s stock worth $13,292,000 after buying an additional 102,870 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Canon by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 182,542 shares of the company’s stock worth $5,223,000 after buying an additional 5,500 shares during the last quarter. Delta Asset Management LLC TN raised its position in Canon by 0.5% in the third quarter. Delta Asset Management LLC TN now owns 160,242 shares of the company’s stock worth $4,652,000 after buying an additional 830 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in Canon by 7.6% in the second quarter. Guggenheim Capital LLC now owns 129,394 shares of the company’s stock worth $3,702,000 after buying an additional 9,116 shares during the last quarter. 1.51% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Canon (NYSE:CAJ)

Canon, Inc. (NYSE:CAJ) opened at 29.03 on Friday. The stock has a market cap of $31.70 billion, a PE ratio of 21.27 and a beta of 0.57. The firm’s 50-day moving average price is $28.92 and its 200 day moving average price is $28.66. Canon, Inc. has a 1-year low of $26.60 and a 1-year high of $30.93.

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A number of brokerages recently weighed in on CAJ. CLSA raised Canon from an “underperform” rating to an “outperform” rating in a research note on Friday, November 25th. Zacks Investment Research cut Canon from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. TheStreet cut Canon from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. J P Morgan Chase & Co cut Canon from a “neutral” rating to an “underweight” rating in a research note on Wednesday, October 26th. Finally, Bank of America Corporation cut Canon from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 27th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.00.

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.

5 Day Chart for NYSE:CAJ

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