First Trust Advisors LP Sells 17,667 Shares of Arrow Electronics, Inc. (NYSE:ARW)

First Trust Advisors LP cut its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,025 shares of the technology company's stock after selling 17,667 shares during the period. First Trust Advisors LP owned approximately 0.40% of Arrow Electronics worth $23,532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in shares of Arrow Electronics by 27.9% in the third quarter. Jane Street Group LLC now owns 11,497 shares of the technology company's stock valued at $1,527,000 after buying an additional 2,509 shares during the period. Te Ahumairangi Investment Management Ltd raised its holdings in Arrow Electronics by 4.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 31,847 shares of the technology company's stock valued at $4,206,000 after acquiring an additional 1,400 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $621,000. Tidal Investments LLC grew its holdings in shares of Arrow Electronics by 3.5% during the 3rd quarter. Tidal Investments LLC now owns 7,223 shares of the technology company's stock worth $959,000 after purchasing an additional 245 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Arrow Electronics by 6.0% during the third quarter. Synovus Financial Corp now owns 3,155 shares of the technology company's stock valued at $419,000 after purchasing an additional 178 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded up $1.87 during mid-day trading on Thursday, reaching $113.23. 308,368 shares of the stock were exchanged, compared to its average volume of 485,073. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The firm has a 50-day simple moving average of $104.32 and a 200 day simple moving average of $113.57. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results 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%. During the same period in the previous year, the company earned $2.41 earnings per share. The firm's quarterly revenue 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 fiscal year.

Insider Transactions at Arrow Electronics

In other news, CAO Yun Sung Cho sold 237 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now directly owns 2,086 shares of the company's stock, valued at $226,810.78. This represents a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Austen acquired 1,900 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price 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 $818,174.96. The trade was a 31.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ARW has been the subject of several research reports. Wells Fargo & Company reduced their target price 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. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $121.25.

Arrow Electronics 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.