Allspring Global Investments Holdings LLC lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,516 shares of the technology company's stock after selling 3,827 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Arrow Electronics were worth $466,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Arrow Electronics by 33.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company's stock worth $1,232,000 after purchasing an additional 2,982 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Arrow Electronics by 111.7% during the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new position in Arrow Electronics during the first quarter worth approximately $356,000. GAMMA Investing LLC boosted its position in Arrow Electronics by 201.3% during the first quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company's stock worth $270,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Arrow Electronics by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company's stock worth $56,436,000 after purchasing an additional 14,971 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.
Analyst Ratings Changes
Separately, Bank of America increased their target price on Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a report on Monday, June 9th.
Check Out Our Latest Stock Analysis on ARW
Insider Activity at Arrow Electronics
In related news, insider Eric Nowak sold 4,952 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the completion of the transaction, the insider directly owned 43,895 shares in the company, valued at approximately $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the transaction, the senior vice president owned 17,057 shares of the company's stock, valued at $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,070 shares of company stock valued at $1,116,062. 0.80% of the stock is currently owned by insiders.
Arrow Electronics Price Performance
Shares of Arrow Electronics stock traded down $0.20 during mid-day trading on Monday, reaching $131.96. 262,434 shares of the stock traded hands, compared to its average volume of 488,388. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.84 billion, a PE ratio of 18.18, a PEG ratio of 0.66 and a beta of 1.10. The business has a 50-day moving average of $123.38 and a 200 day moving average of $113.67.
Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.47 by $0.33. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.32 billion. During the same quarter last year, the firm earned $2.41 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.
Arrow Electronics Company Profile
(
Free Report)
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.
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