Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,780 shares of the technology company’s stock after selling 522 shares during the period. Rhumbline Advisers owned 0.33% of Arrow Electronics worth $19,658,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ARW. Pacer Advisors Inc. boosted its position in shares of Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after acquiring an additional 876,396 shares during the last quarter. FMR LLC boosted its position in shares of Arrow Electronics by 371.1% in the third quarter. FMR LLC now owns 434,905 shares of the technology company’s stock worth $57,768,000 after acquiring an additional 342,590 shares during the last quarter. Lind Value II ApS boosted its position in shares of Arrow Electronics by 36.3% in the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after acquiring an additional 172,669 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Arrow Electronics by 115.0% in the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after acquiring an additional 168,904 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Arrow Electronics by 220.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock worth $19,859,000 after acquiring an additional 102,854 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Trading Up 0.3 %

Shares of ARW stock opened at $112.26 on Friday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The firm’s 50 day moving average price is $113.89 and its two-hundred day moving average price is $122.49. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Analysts Set New Price Targets

ARW has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Raymond James reduced their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company reduced their price target 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $121.25.

Insider Activity

In related news, CAO Yun Sung Cho sold 237 shares of Arrow Electronics stock in a transaction on Friday, February 14th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.