Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 74.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,038 shares of the technology company's stock after selling 48,580 shares during the quarter. Wells Fargo & Company MN's holdings in Arrow Electronics were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ARW. Te Ahumairangi Investment Management Ltd boosted its stake in shares of Arrow Electronics by 4.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 31,847 shares of the technology company's stock valued at $4,206,000 after purchasing an additional 1,400 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Arrow Electronics during the 3rd quarter valued at approximately $621,000. Tidal Investments LLC lifted its holdings in Arrow Electronics by 3.5% in the 3rd quarter. Tidal Investments LLC now owns 7,223 shares of the technology company's stock worth $959,000 after buying an additional 245 shares during the period. Synovus Financial Corp increased its position in Arrow Electronics by 6.0% during the 3rd 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. Finally, Peapack Gladstone Financial Corp boosted its position in Arrow Electronics by 2.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 46,664 shares of the technology company's stock valued at $6,198,000 after acquiring an additional 1,251 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

ARW stock traded up $1.37 during trading on Thursday, reaching $112.73. The stock had a trading volume of 224,431 shares, compared to its average volume of 484,784. The stock's 50 day moving average is $104.32 and its two-hundred day moving average is $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. The firm has a market cap of $5.85 billion, a PE ratio of 15.50, a PEG ratio of 0.52 and a beta of 1.18. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 earnings per share. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARW shares. Bank of America cut Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research report on Friday, February 7th. Two equities research 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $121.25.

Insider Transactions at Arrow Electronics

In related news, Director William F. Austen acquired 1,900 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the transaction, the director now directly owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Yun Sung Cho sold 237 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $108.73, for a total value of $25,769.01. Following the completion of the sale, the chief accounting officer now owns 2,086 shares in the company, valued at approximately $226,810.78. The trade was a 10.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Arrow Electronics Company 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.