Trust Investment Advisors Has $1.98 Million Stock Position in Celestica Inc. (NYSE:CLS)

Trust Investment Advisors lowered its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,467 shares of the technology company’s stock after selling 2,528 shares during the quarter. Celestica accounts for about 1.3% of Trust Investment Advisors’ holdings, making the stock its 19th largest position. Trust Investment Advisors’ holdings in Celestica were worth $1,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica in the fourth quarter valued at $385,000. Quantbot Technologies LP lifted its stake in Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after acquiring an additional 56,732 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Celestica during the 4th quarter worth about $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica during the 4th quarter valued at about $294,000. Finally, XTX Topco Ltd acquired a new position in shares of Celestica in the 3rd quarter valued at about $1,580,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Activity at Celestica

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the sale, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLS. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Barclays boosted their price target on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Down 2.6 %

NYSE:CLS opened at $97.37 on Wednesday. The company’s 50 day moving average is $109.73 and its 200-day moving average is $87.11. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 26.03 and a beta of 2.21.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.