Oldfield Partners LLP Lowers Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• Oldfield Partners LLP has reduced its holdings in Arrow Electronics by 2.2%, now owning 330,500 shares, which constitutes about 10.0% of its investment portfolio.
• Company insiders have recently sold a total of 9,070 shares of Arrow Electronics stock worth over $1.1 million in the last three months, resulting in a significant decrease in their ownership stakes.
• Arrow Electronics reported better-than-expected earnings with an EPS of $1.80 for the quarter, exceeding analyst estimates of $1.47, although revenue was down 1.6% year-over-year.

Oldfield Partners LLP trimmed its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,500 shares of the technology company's stock after selling 7,400 shares during the quarter. Arrow Electronics makes up 10.0% of Oldfield Partners LLP's investment portfolio, making the stock its 5th largest position. Oldfield Partners LLP owned approximately 0.64% of Arrow Electronics worth $34,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARW. Brown Brothers Harriman & Co. acquired a new stake in shares of Arrow Electronics during the fourth quarter worth $31,000. Golden State Wealth Management LLC increased its position in shares of Arrow Electronics by 111.7% in the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after acquiring an additional 200 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Arrow Electronics in the fourth quarter valued at about $47,000. Exchange Traded Concepts LLC bought a new stake in Arrow Electronics during the 1st quarter valued at approximately $120,000. Finally, Lindbrook Capital LLC lifted its holdings in Arrow Electronics by 300.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company's stock valued at $161,000 after purchasing an additional 1,163 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen raised Arrow Electronics from a "hold" rating to a "buy" rating in a report on Saturday. Bank of America raised their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $115.75.

Arrow Electronics Stock Performance

ARW stock traded up $0.34 during trading on Wednesday, hitting $130.37. The company had a trading volume of 232,031 shares, compared to its average volume of 541,184. The firm has a 50-day moving average price of $125.94 and a 200-day moving average price of $115.11. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $137.80. The firm has a market cap of $6.76 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 0.64 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. Arrow Electronics's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the sale, the senior vice president owned 17,057 shares in the company, valued at $2,125,984.48. The trade was a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gail Hamilton sold 1,458 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $178,444.62. Following the completion of the transaction, the director directly owned 101 shares in the company, valued at approximately $12,361.39. The trade was a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,070 shares of company stock valued at $1,116,062 over the last quarter. 0.80% of the stock is owned by company insiders.

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.