Canon (NYSE:CAJ) Lifted to “Hold” at Zacks Investment Research
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.
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.
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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