Towle & Co. Decreases Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Towle & Co. trimmed its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,574 shares of the technology company's stock after selling 32,660 shares during the quarter. Arrow Electronics accounts for approximately 2.4% of Towle & Co.'s portfolio, making the stock its 18th largest holding. Towle & Co. owned about 0.23% of Arrow Electronics worth $13,752,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in Arrow Electronics in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics in the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in shares of Arrow Electronics in the fourth quarter worth approximately $47,000. Principal Securities Inc. boosted its stake in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock worth $54,000 after buying an additional 126 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in Arrow Electronics in the fourth quarter worth approximately $55,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARW has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a research note 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $121.25.

Arrow Electronics Stock Up 0.4%

ARW traded up $0.42 during trading on Thursday, reaching $119.11. The stock had a trading volume of 316,482 shares, compared to its average volume of 491,958. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average is $107.89 and its two-hundred day moving average is $112.12. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 0.52 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly 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 return on equity of 9.69% and a net margin of 1.40%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. During the same period last year, the company earned $2.41 earnings per share. The company's revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Transactions at Arrow Electronics

In other news, Director William F. Austen acquired 1,900 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, with a total value of $197,828.00. Following the completion of the acquisition, the director now owns 7,858 shares of the company's stock, valued at approximately $818,174.96. This trade 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 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 value of $606,075.28. Following the completion of the sale, the insider now owns 43,895 shares in the company, valued at $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,763 shares of company stock worth $824,095. 1.00% of the stock is currently owned by company insiders.

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.