Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 91.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,231 shares of the technology company's stock after selling 189,323 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.'s holdings in Arrow Electronics were worth $2,106,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Arrow Electronics by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,957,225 shares of the technology company's stock worth $245,123,000 after purchasing an additional 43,790 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 3.9% in the 4th quarter. Greenhaven Associates Inc. now owns 1,826,528 shares of the technology company's stock worth $223,293,000 after purchasing an additional 69,400 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company's stock worth $145,244,000 after purchasing an additional 349,561 shares in the last quarter. Earnest Partners LLC grew its position in shares of Arrow Electronics by 5.6% in the 3rd quarter. Earnest Partners LLC now owns 1,149,992 shares of the technology company's stock worth $144,025,000 after buying an additional 60,873 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Arrow Electronics by 67.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company's stock worth $118,527,000 after buying an additional 380,383 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Yun Sung Cho sold 739 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares of the company's stock, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard John Marano sold 1,900 shares of the firm's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the sale, the insider now directly owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,134 shares of company stock valued at $488,795. 1.00% of the stock is owned by insiders.

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 report on Friday, February 9th.

Arrow Electronics Stock Up 0.2 %

Shares of NYSE:ARW traded up $0.23 during midday trading on Thursday, reaching $127.81. The company's stock had a trading volume of 273,324 shares, compared to its average volume of 529,441. The firm has a 50 day moving average of $122.08 and a 200-day moving average of $119.14. The firm has a market capitalization of $6.90 billion, a P/E ratio of 8.12 and a beta of 1.41. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42.

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

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.