Allianz Asset Management GmbH lessened its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,235 shares of the technology company's stock after selling 7,090 shares during the quarter. Allianz Asset Management GmbH owned 0.55% of Arrow Electronics worth $32,945,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in Arrow Electronics in the third quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $40,000. Principal Securities Inc. increased its stake in Arrow Electronics by 35.7% in 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. Capital Performance Advisors LLP acquired a new position in Arrow Electronics during the third quarter worth $73,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics during the third quarter worth $78,000. Institutional investors and hedge funds own 99.34% of the company's stock.
Arrow Electronics Price Performance
Arrow Electronics stock traded down $1.63 during midday trading on Thursday, reaching $108.27. 369,732 shares of the company were exchanged, compared to its average volume of 512,161. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The firm's 50-day simple moving average is $113.29 and its 200-day simple moving average is $122.07. Arrow Electronics, Inc. has a 1 year low of $105.00 and a 1 year high of $137.80.
Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share 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.
Insider Buying and Selling
In other news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on ARW shares. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, November 1st. Bank of America downgraded shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. 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 report on Friday, February 7th. Finally, Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.25.
Read Our Latest Research Report on Arrow Electronics
About Arrow Electronics
(
Free Report)
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.
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