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

Bank of New York Mellon Corp cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 514,069 shares of the technology company's stock after selling 18,218 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of Arrow Electronics worth $58,151,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ARW. Pacer Advisors Inc. boosted its stake in Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock valued at $278,220,000 after purchasing an additional 876,396 shares during the period. Greenhaven Associates Inc. boosted its stake in Arrow Electronics by 1.1% in the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company's stock valued at $215,477,000 after purchasing an additional 20,484 shares during the period. State Street Corp boosted its stake in Arrow Electronics by 0.3% in the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company's stock valued at $224,442,000 after purchasing an additional 4,811 shares during the period. Lind Value II ApS boosted its stake in Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock valued at $73,374,000 after purchasing an additional 172,669 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Arrow Electronics by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company's stock valued at $64,281,000 after purchasing an additional 10,340 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 2,086 shares of the company's stock, valued at $226,810.78. This represents a 10.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Price Performance

Shares of ARW stock traded up $3.47 on Friday, hitting $109.35. 467,916 shares of the company's stock were exchanged, compared to its average volume of 508,057. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics, Inc. has a 12 month low of $103.40 and a 12 month high of $137.80. The stock has a market cap of $5.70 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a 50 day moving average of $112.14 and a 200 day moving average of $121.06.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, equities research analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ARW shares. Wells Fargo & Company reduced their price target on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a research note on Friday, February 7th. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Arrow Electronics has a consensus rating of "Hold" and a consensus price target of $121.25.

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.