Millennium Management LLC Has $21.97 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Millennium Management LLC trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,226 shares of the technology company's stock after selling 21,369 shares during the period. Millennium Management LLC owned 0.37% of Arrow Electronics worth $21,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ARW. Polaris Capital Management LLC boosted its stake 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 worth $29,547,000 after acquiring an additional 2,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Arrow Electronics by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company's stock worth $56,436,000 after purchasing an additional 14,971 shares during the last quarter. Choreo LLC acquired a new stake in Arrow Electronics in the 4th quarter worth approximately $422,000. Victory Capital Management Inc. grew its holdings in Arrow Electronics by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 20,669 shares of the technology company's stock valued at $2,338,000 after purchasing an additional 192 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Arrow Electronics by 4.3% during the fourth quarter. Wellington Management Group LLP now owns 4,100 shares of the technology company's stock valued at $464,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARW shares. Bank of America cut shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $121.25.

Arrow Electronics Stock Down 0.3%

Shares of ARW opened at $120.62 on Wednesday. The business's fifty day moving average price is $107.61 and its two-hundred day moving average price is $112.08. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.52 and a beta of 1.10. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.32 billion. During the same period last year, the firm earned $2.41 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Activity at Arrow Electronics

In other Arrow Electronics news, insider Eric Nowak sold 4,952 shares of the company'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 now owns 43,895 shares of the company's stock, valued at $5,372,309.05. This represents a 10.14% 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 business'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 $178,444.62. Following the transaction, the director now owns 101 shares in the company, valued at $12,361.39. This represents a 93.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,763 shares of company stock worth $824,095 in the last quarter. Corporate insiders own 1.00% of the company's stock.

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.

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