Bank of New York Mellon Corp Has $58.15 Million Position in Arrow Electronics, Inc. (NYSE:ARW)

Bank of New York Mellon Corp lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 514,069 shares of the technology company’s stock after selling 18,218 shares during the period. Bank of New York Mellon Corp owned 0.98% of Arrow Electronics worth $58,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARW. IFP Advisors Inc grew its holdings in Arrow Electronics by 26.5% during the 4th quarter. IFP Advisors Inc now owns 630 shares of the technology company’s stock worth $71,000 after acquiring an additional 132 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Arrow Electronics by 211.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,678 shares of the technology company’s stock worth $982,000 after acquiring an additional 5,891 shares during the period. Fisher Funds Management LTD acquired a new stake in Arrow Electronics during the 4th quarter worth $7,455,000. Ieq Capital LLC grew its holdings in Arrow Electronics by 35.2% during the 4th quarter. Ieq Capital LLC now owns 8,723 shares of the technology company’s stock worth $987,000 after acquiring an additional 2,271 shares during the period. Finally, Truist Financial Corp grew its holdings in Arrow Electronics by 16.5% during the 4th quarter. Truist Financial Corp now owns 5,225 shares of the technology company’s stock worth $591,000 after acquiring an additional 741 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ARW. Wells Fargo & Company lowered their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.25.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $112.11, for a total value of $39,574.83. Following the sale, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. The trade was a 18.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Trading Down 0.9 %

Shares of NYSE ARW opened at $104.67 on Wednesday. The company’s fifty day moving average is $112.82 and its 200-day moving average is $121.60. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.52 and a beta of 1.26. Arrow Electronics, Inc. has a twelve month low of $103.40 and a twelve month 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 announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping 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%. Equities research analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

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.