Prudential Financial Inc. Sells 6,018 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Prudential Financial Inc. reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,654 shares of the technology company's stock after selling 6,018 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Arrow Electronics worth $4,825,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in Arrow Electronics by 1,072.6% during the third quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock valued at $5,564,000 after buying an additional 37,746 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Arrow Electronics by 140.4% during the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock valued at $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Lind Value II ApS grew its stake in shares of Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock worth $73,374,000 after purchasing an additional 172,669 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock worth $41,948,000 after purchasing an additional 168,904 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Arrow Electronics by 14.2% in the 3rd quarter. Janus Henderson Group PLC now owns 243,750 shares of the technology company's stock worth $32,377,000 after purchasing an additional 30,380 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

ARW has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price 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. Bank of America cut Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $121.25.

Arrow Electronics Stock Down 4.1 %

NYSE:ARW traded down $3.90 on Friday, hitting $92.21. 827,405 shares of the company's stock traded hands, compared to its average volume of 454,767. The company has a market cap of $4.78 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. Arrow Electronics, Inc. has a 1 year low of $89.45 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 $108.08 and a 200-day moving average price of $117.45.

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%. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, Director William F. Austen acquired 1,900 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $104.12 per share, with a total value of $197,828.00. Following the transaction, the director now owns 7,858 shares of the company's stock, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Yun Sung Cho sold 353 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

About Arrow Electronics

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.