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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Arrow Electronics by 91.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 35,032 shares of the technology company's stock worth $3,637,000 after purchasing an additional 16,724 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Arrow Electronics by 12.0% in the first quarter. Cetera Investment Advisers now owns 9,314 shares of the technology company's stock valued at $967,000 after purchasing an additional 997 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Arrow Electronics by 18.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,438 shares of the technology company's stock valued at $357,000 after purchasing an additional 539 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in Arrow Electronics by 399.5% during the first quarter. ACR Alpine Capital Research LLC now owns 86,541 shares of the technology company's stock worth $8,986,000 after buying an additional 69,214 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Arrow Electronics during the first quarter worth $354,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Trading Up 0.7%

Shares of NYSE ARW traded up $0.89 during trading on Monday, reaching $128.70. The stock had a trading volume of 364,650 shares, compared to its average volume of 353,176. 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 market cap of $6.68 billion, a P/E ratio of 17.73, a PEG ratio of 0.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43. The business's 50-day moving average price is $125.60 and its 200-day moving average price is $114.89.

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

Analysts Set New Price Targets

Several research firms have weighed in on ARW. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday. 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $115.75.

Insider Buying and Selling

In related news, Director Gail Hamilton sold 1,458 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the sale, the director directly owned 101 shares in the company, valued at approximately $12,361.39. This represents a 93.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Nowak sold 4,952 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $606,075.28. Following the sale, the insider owned 43,895 shares of the company's stock, valued at $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,070 shares of company stock worth $1,116,062 in the last quarter. Company insiders own 0.80% of the company's stock.

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.