CenterBook Partners LP Sells 3,242 Shares of Arrow Electronics, Inc. (NYSE:ARW)

CenterBook Partners LP trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,877 shares of the technology company's stock after selling 3,242 shares during the period. CenterBook Partners LP owned 0.05% of Arrow Electronics worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Arrow Electronics during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 200 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Arrow Electronics in the fourth quarter worth $47,000. CoreFirst Bank & Trust bought a new stake in shares of Arrow Electronics in the fourth quarter worth $55,000. Finally, Exchange Traded Concepts LLC bought a new stake in Arrow Electronics during the first quarter valued at $120,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARW has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Arrow Electronics from a "buy" rating to a "hold" rating in a research report on Friday. Bank of America increased their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $115.75.

Insider Activity

In other news, Director Gail Hamilton sold 1,458 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 101 shares of the company's stock, valued at $12,361.39. This represents a 93.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Nowak sold 4,952 shares of the firm's stock in a transaction that occurred on 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 directly owned 43,895 shares of the company's stock, valued at approximately $5,372,309.05. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,070 shares of company stock valued at $1,116,062 in the last three months. Company insiders own 1.00% of the company's stock.

Arrow Electronics Stock Down 0.3%

Shares of ARW traded down $0.37 on Friday, reaching $130.36. The company's stock had a trading volume of 403,043 shares, compared to its average volume of 484,582. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.76 billion, a PE ratio of 17.96, a PEG ratio of 0.65 and a beta of 1.10. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The firm has a fifty day moving average of $124.80 and a 200-day moving average of $114.28.

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

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.