Denali Advisors LLC Has $469,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Denali Advisors LLC reduced its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 15.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,626 shares of the technology company’s stock after selling 686 shares during the quarter. Denali Advisors LLC’s holdings in Arrow Electronics were worth $469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Arrow Electronics in the fourth quarter valued at $79,027,000. Assenagon Asset Management S.A. boosted its stake in shares of Arrow Electronics by 317.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock worth $65,859,000 after buying an additional 409,810 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock valued at $145,244,000 after acquiring an additional 349,561 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Arrow Electronics by 56.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 851,790 shares of the technology company’s stock valued at $104,131,000 after acquiring an additional 306,371 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Arrow Electronics by 11,546.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 220,347 shares of the technology company’s stock worth $26,937,000 after acquiring an additional 218,455 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted their price target on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th.

Insiders Place Their Bets

In other news, Director Andrew Charles Kerin sold 1,469 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $130.71, for a total value of $192,012.99. Following the transaction, the director now owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andrew Charles Kerin sold 1,469 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $130.71, for a total value of $192,012.99. Following the completion of the sale, the director now owns 1,520 shares of the company’s stock, valued at $198,679.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gail Hamilton sold 2,987 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the sale, the director now directly owns 102 shares in the company, valued at approximately $13,524.18. The disclosure for this sale can be found here. Insiders sold 5,976 shares of company stock worth $788,183 over the last three months. Insiders own 0.60% of the company’s stock.

Arrow Electronics Stock Up 0.2 %

Shares of ARW stock opened at $119.58 on Thursday. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $147.42. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 9.40 and a beta of 1.27. The firm’s 50-day moving average is $128.08 and its 200-day moving average is $122.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.60 EPS. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.37 EPS for the current year.

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.