Gotham Asset Management LLC Decreases Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Gotham Asset Management LLC lessened its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,435 shares of the technology company's stock after selling 10,677 shares during the period. Gotham Asset Management LLC's holdings in Arrow Electronics were worth $841,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Polaris Capital Management LLC boosted its holdings in shares of Arrow Electronics by 1.1% during the 4th quarter. Polaris Capital Management LLC now owns 261,203 shares of the technology company's stock valued at $29,547,000 after buying an additional 2,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arrow Electronics by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company's stock valued at $56,436,000 after buying an additional 14,971 shares in the last quarter. Choreo LLC bought a new stake in shares of Arrow Electronics during the 4th quarter valued at $422,000. Victory Capital Management Inc. boosted its holdings in shares of Arrow Electronics by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 20,669 shares of the technology company's stock valued at $2,338,000 after buying an additional 192 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Arrow Electronics by 4.3% during the 4th quarter. Wellington Management Group LLP now owns 4,100 shares of the technology company's stock valued at $464,000 after buying an additional 168 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Stock Down 1.6%

Shares of NYSE:ARW traded down $1.96 on Friday, hitting $117.19. 264,306 shares of the company traded hands, compared to its average volume of 491,996. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $108.36 and a 200-day simple moving average of $112.11. The company has a market cap of $6.08 billion, a PE ratio of 16.10, a PEG ratio of 0.52 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.33. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.32 billion. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. The company's revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 earnings per share. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William F. Austen acquired 1,900 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $104.12 per share, with a total value of $197,828.00. Following the transaction, the director now directly owns 7,858 shares in the company, valued at approximately $818,174.96. This represents a 31.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of Arrow Electronics 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 transaction, the insider now directly owns 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. In the last ninety days, insiders sold 6,763 shares of company stock worth $824,095. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $121.25.

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.