General American Investors Co. Inc. Makes New Investment in Celestica, Inc. $CLS

General American Investors Co. Inc. bought a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,200 shares of the technology company’s stock, valued at approximately $8,385,000.

Other hedge funds have also recently made changes to their positions in the company. Washington Trust Advisors Inc. purchased a new position in Celestica in the 2nd quarter worth about $28,000. Elevation Wealth Partners LLC purchased a new stake in Celestica in the 3rd quarter valued at about $28,000. Ascentis Independent Advisors purchased a new stake in Celestica in the 1st quarter valued at about $29,000. Latitude Advisors LLC purchased a new stake in Celestica in the 3rd quarter valued at about $40,000. Finally, Mather Group LLC. grew its stake in Celestica by 266.7% in the 3rd quarter. Mather Group LLC. now owns 121 shares of the technology company’s stock worth $44,000 after acquiring an additional 88 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert Mionis sold 23,496 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the completion of the transaction, the chief executive officer owned 23,396 shares of the company’s stock, valued at $8,478,476.44. The trade was a 50.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Todd C. Cooper sold 20,118 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total value of $7,242,480.00. Following the sale, the president owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. This represents a 21.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 67,010 shares of company stock worth $24,278,487. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CLS shares. The Goldman Sachs Group reaffirmed a “conviction-buy” rating and set a $435.00 target price on shares of Celestica in a research report on Wednesday, October 28th. JPMorgan Chase & Co. boosted their price target on Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of Celestica in a research note on Thursday, October 15th. Citigroup raised their price objective on Celestica from $415.00 to $436.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Finally, Scotiabank began coverage on Celestica in a research report on Tuesday, August 11th. They set a “sector outperform” rating and a $500.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica currently has an average rating of “Buy” and a consensus target price of $453.32.

Celestica Stock Up 0.5%

Celestica stock traded up $1.13 during midday trading on Friday, hitting $206.77. 3,704,638 shares of the company’s stock were exchanged, compared to its average volume of 2,955,335. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.61. Celestica, Inc. has a 12 month low of $197.50 and a 12 month high of $474.02. The firm has a 50-day moving average of $317.31 and a two-hundred day moving average of $329.19. The company has a market cap of $26.08 billion, a PE ratio of 19.56, a P/E/G ratio of 0.63 and a beta of 2.10.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.39 billion. As a group, analysts expect that Celestica, Inc. will post 10.97 earnings per share for the current fiscal year.

Celestica Profile

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM’s manufacturing operations and became an independent company in 1996.