Bank of New York Mellon Corp Trims Stake in Arrow Electronics, Inc. (NYSE:ARW)

Bank of New York Mellon Corp cut its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 455,095 shares of the technology company's stock after selling 58,974 shares during the period. Bank of New York Mellon Corp owned approximately 0.88% of Arrow Electronics worth $47,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Arrow Electronics by 208.8% during the 4th quarter. FMR LLC now owns 1,343,090 shares of the technology company's stock worth $151,930,000 after acquiring an additional 908,185 shares in the last quarter. Bank of America Corp DE raised its stake in Arrow Electronics by 163.7% during the fourth quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company's stock valued at $133,089,000 after purchasing an additional 730,408 shares in the last quarter. Fiduciary Management Inc. WI lifted its position in Arrow Electronics by 44.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company's stock valued at $175,214,000 after purchasing an additional 473,909 shares during the last quarter. Boston Partners lifted its position in Arrow Electronics by 14.8% during the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock valued at $280,138,000 after purchasing an additional 318,329 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Arrow Electronics by 31,181.6% in the 1st quarter. GAMMA Investing LLC now owns 269,647 shares of the technology company's stock worth $279,970,000 after buying an additional 268,785 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Bank of America upped their target price 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.

Arrow Electronics Trading Down 0.2%

NYSE:ARW traded down $0.20 during midday trading on Monday, hitting $131.96. 262,434 shares of the company traded hands, compared to its average volume of 558,816. The firm has a market capitalization of $6.84 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.66 and a beta of 1.10. The firm's fifty day moving average is $123.38 and its 200-day moving average is $113.67. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39.

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 for the quarter, beating the consensus estimate of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. 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 prior year, the firm posted $2.41 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insider Transactions at Arrow Electronics

In other news, Director Gail Hamilton sold 1,458 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $178,444.62. Following the completion of the sale, the director directly owned 101 shares of the company's stock, valued at approximately $12,361.39. The trade was a 93.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Nowak sold 4,952 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the completion of the transaction, the insider owned 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 9,070 shares of company stock worth $1,116,062. 0.80% of the stock is currently owned by company insiders.

Arrow Electronics Company Profile

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.