D. E. Shaw & Co. Inc. Sells 91,351 Shares of Arrow Electronics, Inc. (NYSE:ARW)

D. E. Shaw & Co. Inc. lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,273 shares of the technology company's stock after selling 91,351 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.39% of Arrow Electronics worth $23,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARW. BOK Financial Private Wealth Inc. bought a new stake in Arrow Electronics during the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. bought a new stake in Arrow Electronics during the 4th quarter valued at $31,000. New Age Alpha Advisors LLC bought a new stake in Arrow Electronics during the 4th quarter valued at $47,000. Principal Securities Inc. raised its stake in Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock valued at $54,000 after acquiring an additional 126 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in Arrow Electronics during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Wells Fargo & Company dropped their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $121.25.

Insider Activity

In other news, insider Eric Nowak sold 4,952 shares of Arrow Electronics stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the transaction, the insider now owns 43,895 shares in the company, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Yun Sung Cho sold 237 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $108.73, for a total value of $25,769.01. Following the completion of the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. This trade represents a 10.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock worth $849,864. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Trading Up 0.4%

Shares of Arrow Electronics stock traded up $0.48 on Thursday, reaching $120.59. 548,310 shares of the company were exchanged, compared to its average volume of 490,386. The stock has a fifty day moving average price of $106.26 and a 200-day moving average price of $112.41. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.33. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. Arrow Electronics's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 earnings per share. On average, analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.