Martingale Asset Management L P Sells 5,789 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Martingale Asset Management L P reduced its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,501 shares of the technology company's stock after selling 5,789 shares during the period. Martingale Asset Management L P owned 0.15% of Arrow Electronics worth $8,767,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia raised its holdings in Arrow Electronics by 11.6% during the fourth quarter. Bank of Nova Scotia now owns 3,019 shares of the technology company's stock worth $342,000 after buying an additional 315 shares during the last quarter. FMR LLC lifted its position in Arrow Electronics by 208.8% in the 4th quarter. FMR LLC now owns 1,343,090 shares of the technology company's stock valued at $151,930,000 after acquiring an additional 908,185 shares in the last quarter. Federated Hermes Inc. boosted its stake in Arrow Electronics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 5,367 shares of the technology company's stock valued at $607,000 after purchasing an additional 183 shares during the last quarter. Aster Capital Management DIFC Ltd increased its holdings in Arrow Electronics by 32.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,905 shares of the technology company's stock worth $215,000 after purchasing an additional 469 shares in the last quarter. Finally, Lyrical Asset Management LP raised its stake in shares of Arrow Electronics by 0.7% in the fourth quarter. Lyrical Asset Management LP now owns 1,454,883 shares of the technology company's stock worth $164,576,000 after purchasing an additional 9,670 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

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Insider Buying and Selling at Arrow Electronics

In other news, Director William F. Austen bought 1,900 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the acquisition, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Yun Sung Cho sold 237 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Arrow Electronics Stock Performance

NYSE ARW traded up $0.76 on Tuesday, hitting $100.76. 227,931 shares of the stock traded hands, compared to its average volume of 467,558. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80. The business's fifty day moving average is $104.96 and its two-hundred day moving average is $115.43. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.52 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its earnings results 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%. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 cut their price objective on 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 research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.