Vanguard Group Inc. Decreases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Vanguard Group Inc. decreased its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,107,823 shares of the technology company's stock after selling 115,865 shares during the period. Vanguard Group Inc. owned 11.61% of Arrow Electronics worth $690,917,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ARW. Fox Run Management L.L.C. purchased a new position in Arrow Electronics in the 4th quarter valued at approximately $409,000. KLP Kapitalforvaltning AS bought a new position in shares of Arrow Electronics in the fourth quarter worth $1,550,000. AXQ Capital LP boosted its holdings in shares of Arrow Electronics by 209.3% in the fourth quarter. AXQ Capital LP now owns 8,810 shares of the technology company's stock worth $997,000 after acquiring an additional 5,962 shares during the period. Sei Investments Co. grew its position in shares of Arrow Electronics by 6.3% in the fourth quarter. Sei Investments Co. now owns 770,975 shares of the technology company's stock valued at $87,214,000 after purchasing an additional 45,593 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Arrow Electronics by 13.0% during the 4th quarter. American Century Companies Inc. now owns 100,725 shares of the technology company's stock valued at $11,394,000 after purchasing an additional 11,623 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

Arrow Electronics Price Performance

Arrow Electronics stock traded down $3.90 during midday trading on Friday, hitting $92.21. 827,405 shares of the company's stock were exchanged, compared to its average volume of 454,000. The stock has a 50-day moving average price of $108.08 and a two-hundred day moving average price of $117.53. Arrow Electronics, Inc. has a 52-week low of $89.53 and a 52-week high of $137.80. The company has a market cap of $4.78 billion, a P/E ratio of 12.67, 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.

Remove Ads

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, topping 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%. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, Director William F. Austen purchased 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Yun Sung Cho sold 237 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the sale, the chief accounting officer now owns 2,086 shares of the company's stock, 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.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company cut their target price 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 shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $121.25.

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.