Mondrian Investment Partners LTD Has $42,117,000 Position in Canon, Inc. (CAJ)
Mondrian Investment Partners LTD maintained its stake in Canon, Inc. (NYSE:CAJ) during the second quarter, Holdings Channel reports. The institutional investor owned 1,238,737 shares of the technology company’s stock at the end of the second quarter. Mondrian Investment Partners LTD’s holdings in Canon were worth $42,117,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in Canon by 1.7% in the first quarter. FMR LLC now owns 525,719 shares of the technology company’s stock worth $16,439,000 after buying an additional 8,834 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Canon by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 124,067 shares of the technology company’s stock worth $3,880,000 after buying an additional 2,962 shares in the last quarter. Conning Inc. purchased a new stake in Canon during the first quarter worth approximately $313,000. LSV Asset Management increased its stake in Canon by 1.7% in the first quarter. LSV Asset Management now owns 290,900 shares of the technology company’s stock worth $9,096,000 after buying an additional 5,000 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in Canon during the second quarter worth approximately $233,000. 1.50% of the stock is currently owned by institutional investors.
Shares of Canon, Inc. (NYSE CAJ) opened at 34.80 on Friday. Canon, Inc. has a 12 month low of $27.76 and a 12 month high of $35.91. The firm has a market capitalization of $37.89 billion, a price-to-earnings ratio of 21.68 and a beta of 0.41. The stock’s 50 day moving average price is $34.30 and its 200-day moving average price is $32.44.
Canon (NYSE:CAJ) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $9.40 billion. Canon had a return on equity of 6.48% and a net margin of 5.17%. On average, equities research analysts predict that Canon, Inc. will post $1.64 EPS for the current fiscal year.
CAJ has been the topic of a number of research reports. Zacks Investment Research downgraded Canon from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. BidaskClub raised Canon from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.00.
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.
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