PNC Financial Services Group Inc. Sells 3,680 Shares of Celestica Inc. (NYSE:CLS)

PNC Financial Services Group Inc. trimmed its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,025 shares of the technology company's stock after selling 3,680 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Celestica were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CLS. Natixis Advisors LLC lifted its holdings in shares of Celestica by 1,697.3% during the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company's stock worth $11,936,000 after buying an additional 220,494 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock worth $1,682,000 after buying an additional 12,584 shares in the last quarter. Value Aligned Research Advisors LLC raised its stake in Celestica by 10.5% in the third quarter. Value Aligned Research Advisors LLC now owns 77,210 shares of the technology company's stock valued at $3,953,000 after purchasing an additional 7,354 shares in the last quarter. L & S Advisors Inc acquired a new position in Celestica in the third quarter valued at about $1,961,000. Finally, Cerity Partners LLC raised its stake in Celestica by 3.2% in the third quarter. Cerity Partners LLC now owns 10,772 shares of the technology company's stock valued at $551,000 after purchasing an additional 338 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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Insider Transactions at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CLS. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target for the company in a research note on Friday, January 31st. TD Securities boosted their price target on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Stifel Nicolaus boosted their price target on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Celestica has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.

Celestica Trading Up 0.5 %

Shares of NYSE:CLS traded up $0.44 during midday trading on Friday, hitting $96.09. 2,891,599 shares of the stock were exchanged, compared to its average volume of 2,738,899. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 25.69 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The business's 50-day moving average price is $109.74 and its 200 day moving average price is $86.44. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27.

Celestica Profile

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.