Redwood Investment Management LLC Cuts Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Redwood Investment Management LLC lessened its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 93.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,290 shares of the technology company's stock after selling 32,669 shares during the period. Redwood Investment Management LLC's holdings in Arrow Electronics were worth $259,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Arrow Electronics during the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. bought a new stake in shares of Arrow Electronics during the 4th quarter valued at about $31,000. New Age Alpha Advisors LLC bought a new stake in shares of Arrow Electronics during the 4th quarter valued at about $47,000. Principal Securities Inc. boosted its position in shares of Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock valued at $54,000 after purchasing an additional 126 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Arrow Electronics during the 4th quarter valued at about $55,000. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock traded down $0.31 during trading hours on Tuesday, reaching $120.62. The company had a trading volume of 425,349 shares, compared to its average volume of 492,022. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80. The business has a fifty day simple moving average of $107.24 and a 200 day simple moving average of $112.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. The firm has a market cap of $6.26 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) 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 company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. During the same quarter last 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, analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric Nowak sold 4,952 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 $606,075.28. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Yun Sung Cho sold 353 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $112.11, for a total value of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares in the company, valued at approximately $173,658.39. This represents a 18.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,763 shares of company stock valued at $824,095 over the last 90 days. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ARW has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has an average 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.