Allianz Asset Management GmbH Decreases Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Allianz Asset Management GmbH reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 285,383 shares of the technology company's stock after selling 5,852 shares during the quarter. Allianz Asset Management GmbH owned 0.55% of Arrow Electronics worth $29,631,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its stake in shares of Arrow Electronics by 4.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,643 shares of the technology company's stock valued at $274,000 after acquiring an additional 106 shares during the period. Net Worth Advisory Group grew its stake in shares of Arrow Electronics by 1.8% during the 1st quarter. Net Worth Advisory Group now owns 6,724 shares of the technology company's stock valued at $698,000 after acquiring an additional 117 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Arrow Electronics by 2.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,887 shares of the technology company's stock valued at $507,000 after acquiring an additional 121 shares during the period. Fulton Bank N.A. grew its stake in shares of Arrow Electronics by 6.4% during the 1st quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company's stock valued at $210,000 after acquiring an additional 122 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of Arrow Electronics by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,577 shares of the technology company's stock valued at $683,000 after acquiring an additional 124 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insider Transactions at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the sale, the senior vice president directly owned 17,057 shares of the company's stock, valued at $2,125,984.48. This represents a 13.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gail Hamilton sold 1,458 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $178,444.62. Following the sale, the director owned 101 shares in the company, valued at $12,361.39. The trade was a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,070 shares of company stock valued at $1,116,062 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America upped their price target on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Arrow Electronics presently has a consensus rating of "Hold" and an average target price of $115.75.

Arrow Electronics Price Performance

Shares of ARW traded up $0.74 during mid-day trading on Friday, hitting $127.89. 315,045 shares of the stock were exchanged, compared to its average volume of 365,518. The company has a market cap of $6.63 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 0.63 and a beta of 1.10. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80. The firm has a 50-day moving average of $125.60 and a two-hundred day moving average of $114.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.33. The business had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.32 billion. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share 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.