Allspring Global Investments Holdings LLC Increases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Allspring Global Investments Holdings LLC increased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 58.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,987 shares of the technology company's stock after acquiring an additional 45,373 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Arrow Electronics worth $15,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vinva Investment Management Ltd raised its stake in Arrow Electronics by 4.7% during the third quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company's stock worth $243,000 after purchasing an additional 85 shares during the period. Gladius Capital Management LP raised its stake in Arrow Electronics by 27.1% during the third quarter. Gladius Capital Management LP now owns 441 shares of the technology company's stock worth $55,000 after purchasing an additional 94 shares during the period. IFP Advisors Inc raised its stake in Arrow Electronics by 33.0% during the third quarter. IFP Advisors Inc now owns 403 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares during the period. Wetherby Asset Management Inc. raised its stake in Arrow Electronics by 3.5% during the first quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company's stock worth $358,000 after purchasing an additional 101 shares during the period. Finally, Nilsine Partners LLC raised its stake in Arrow Electronics by 2.3% during the third quarter. Nilsine Partners LLC now owns 4,861 shares of the technology company's stock worth $609,000 after purchasing an additional 110 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Up 0.0 %

Shares of Arrow Electronics stock traded up $0.04 on Tuesday, reaching $123.44. The company had a trading volume of 608,981 shares, compared to its average volume of 553,150. The firm's 50 day moving average price is $120.63 and its two-hundred day moving average price is $119.06. The firm has a market cap of $6.66 billion, a PE ratio of 7.82 and a beta of 1.41. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $147.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.72 by $0.26. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business's revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. Sell-side analysts predict that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a "hold" rating on the stock in a research note on Friday, February 9th.

Insider Activity

In other news, CAO Yun Sung Cho sold 739 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares of the company's stock, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now owns 12,108 shares of the company's stock, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,134 shares of company stock valued at $488,795. Company insiders own 0.60% of the company's stock.

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.