Corebridge Financial Inc. Has $6.73 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Corebridge Financial Inc. lessened its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,507 shares of the technology company's stock after selling 3,102 shares during the period. Corebridge Financial Inc. owned about 0.11% of Arrow Electronics worth $6,731,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Arrow Electronics by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company's stock worth $64,281,000 after purchasing an additional 10,340 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Arrow Electronics by 140.4% in the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock worth $1,598,000 after buying an additional 7,028 shares during the last quarter. FMR LLC boosted its holdings in shares of Arrow Electronics by 371.1% in the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company's stock valued at $57,768,000 after buying an additional 342,590 shares during the period. Brooklyn Investment Group bought a new stake in shares of Arrow Electronics during the 3rd quarter valued at about $40,000. Finally, Martingale Asset Management L P raised its stake in Arrow Electronics by 3,768.6% during the third quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company's stock worth $11,063,000 after acquiring an additional 81,137 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

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Arrow Electronics Stock Up 0.3 %

NYSE:ARW traded up $0.27 on Wednesday, hitting $103.49. 45,236 shares of the company's stock traded hands, compared to its average volume of 528,677. The company has a market cap of $5.37 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. Arrow Electronics, Inc. has a 1 year low of $101.78 and a 1 year high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $109.37 and a 200-day moving average price of $118.02.

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

Insider Activity at Arrow Electronics

In other Arrow Electronics news, Director William F. Austen bought 1,900 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $104.12 per share, with a total value of $197,828.00. Following the completion of the transaction, the director now directly owns 7,858 shares of the company's stock, valued at approximately $818,174.96. The trade was a 31.89 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Yun Sung Cho sold 353 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares in the company, valued at $173,658.39. This represents a 18.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of 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 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 assigned a buy rating to the company. Based on data from MarketBeat, Arrow Electronics has an average rating of "Hold" and an average target price of $121.25.

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.