Greenleaf Trust Trims Holdings in Canon Inc (NYSE:CAJ)

Greenleaf Trust lessened its position in Canon Inc (NYSE:CAJ) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,400 shares of the technology company’s stock after selling 1,802 shares during the quarter. Greenleaf Trust’s holdings in Canon were worth $931,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Canon by 4,305.5% during the 3rd quarter. CWM LLC now owns 8,018 shares of the technology company’s stock valued at $254,000 after purchasing an additional 7,836 shares in the last quarter. Cardinal Capital Management acquired a new position in Canon during the 3rd quarter worth approximately $818,000. First Trust Advisors LP raised its stake in Canon by 17.5% during the 3rd quarter. First Trust Advisors LP now owns 767,089 shares of the technology company’s stock worth $24,278,000 after buying an additional 114,286 shares during the period. Bank of Montreal Can raised its stake in Canon by 218.6% during the 3rd quarter. Bank of Montreal Can now owns 72,909 shares of the technology company’s stock worth $2,308,000 after buying an additional 50,023 shares during the period. Finally, Gradient Investments LLC raised its stake in Canon by 9.3% during the 3rd quarter. Gradient Investments LLC now owns 72,451 shares of the technology company’s stock worth $2,293,000 after buying an additional 6,157 shares during the period. 1.61% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Canon from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. downgraded Canon from a “neutral” rating to an “underweight” rating in a research note on Thursday, September 13th.

Shares of Canon stock traded up $0.19 on Thursday, hitting $28.18. The company had a trading volume of 282,291 shares, compared to its average volume of 643,345. The company has a market cap of $30.57 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. Canon Inc has a 1 year low of $27.73 and a 1 year high of $40.67. The company has a quick ratio of 1.40, a current ratio of 2.04 and a debt-to-equity ratio of 0.14.

Canon (NYSE:CAJ) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Canon had a return on equity of 8.36% and a net margin of 5.88%. As a group, research analysts anticipate that Canon Inc will post 2.16 EPS for the current year.

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Canon Profile

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 in 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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