Russell Investments Group Ltd. Sells 7,696 Shares of Celestica Inc. (NYSE:CLS)

Russell Investments Group Ltd. reduced its position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,340 shares of the technology company's stock after selling 7,696 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Celestica worth $7,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CLS. Arrowstreet Capital Limited Partnership increased its holdings in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after buying an additional 1,401,877 shares during the last quarter. Norges Bank bought a new position in shares of Celestica during the 4th quarter valued at $139,008,000. Franklin Resources Inc. lifted its stake in shares of Celestica by 290.4% in the 4th quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company's stock valued at $99,735,000 after purchasing an additional 803,780 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Celestica during the fourth quarter worth $47,685,000. Finally, National Bank of Canada FI raised its holdings in Celestica by 181.9% during the fourth quarter. National Bank of Canada FI now owns 388,407 shares of the technology company's stock valued at $35,883,000 after buying an additional 250,604 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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Celestica Stock Down 2.6 %

Shares of NYSE:CLS traded down $2.12 during midday trading on Wednesday, reaching $80.45. 1,182,942 shares of the company were exchanged, compared to its average volume of 3,063,701. The stock has a fifty day simple moving average of $96.44 and a two-hundred day simple moving average of $90.50. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27. The firm has a market cap of $9.33 billion, a PE ratio of 21.42 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Analyst Ratings Changes

A number of research analysts recently weighed in on CLS shares. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. CIBC dropped their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research note on Tuesday. Barclays upped their target price on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. TD Securities lifted their target price on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted 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. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Celestica presently has an average rating of "Moderate Buy" and an average price target of $108.33.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 75,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the transaction, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 934,381 shares of company stock valued at $116,673,769. Corporate insiders own 1.00% of the company's stock.

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.