Zacks Investment Research upgraded shares of Canon (NYSE:CAJ) from a sell rating to a hold rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “

Separately, Goldman Sachs Group lowered shares of Canon from a neutral rating to a sell rating in a research note on Friday, September 20th.

CAJ traded up $0.16 on Monday, hitting $27.80. 129,900 shares of the company’s stock were exchanged, compared to its average volume of 283,936. The firm has a market cap of $29.61 billion, a PE ratio of 13.05, a P/E/G ratio of 4.83 and a beta of 0.56. Canon has a twelve month low of $25.49 and a twelve month high of $30.12. The stock has a fifty day moving average of $27.04 and a two-hundred day moving average of $27.62. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 0.16.

Several large investors have recently made changes to their positions in CAJ. First Trust Advisors LP increased its stake in shares of Canon by 34.6% in the third quarter. First Trust Advisors LP now owns 1,517,397 shares of the technology company’s stock valued at $40,514,000 after purchasing an additional 390,348 shares during the period. LSV Asset Management boosted its holdings in shares of Canon by 24.2% in the second quarter. LSV Asset Management now owns 1,032,700 shares of the technology company’s stock valued at $30,227,000 after acquiring an additional 201,400 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Canon by 5.8% in the second quarter. Renaissance Technologies LLC now owns 2,328,600 shares of the technology company’s stock valued at $68,158,000 after acquiring an additional 126,705 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Canon by 7.0% in the second quarter. Parametric Portfolio Associates LLC now owns 1,564,825 shares of the technology company’s stock valued at $45,802,000 after acquiring an additional 103,041 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Canon by 67.1% in the second quarter. CWM LLC now owns 172,122 shares of the technology company’s stock valued at $5,038,000 after acquiring an additional 69,107 shares in the last quarter. Institutional investors own 1.26% of the company’s stock.

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.

Further Reading: What is the Dividend Aristocrat Index?

Get a free copy of the Zacks research report on Canon (CAJ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Canon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon and related companies with MarketBeat.com's FREE daily email newsletter.