Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by abrdn plc

abrdn plc reduced its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 9.6% in the 4th quarter, HoldingsChannel reports. The fund owned 7,906 shares of the technology company’s stock after selling 836 shares during the quarter. abrdn plc’s holdings in Arrow Electronics were worth $827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ARW. Panagora Asset Management Inc. lifted its holdings in shares of Arrow Electronics by 12.3% in the 1st quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock valued at $413,000 after purchasing an additional 380 shares during the last quarter. Blair William & Co. IL purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at about $273,000. Prudential PLC purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at about $302,000. Cetera Investment Advisers purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at about $275,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at about $52,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $125.98 on Friday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. The stock has a 50 day simple moving average of $118.32 and a 200-day simple moving average of $115.06. Arrow Electronics, Inc. has a 12-month low of $89.38 and a 12-month high of $134.56. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its earnings results on Thursday, May 4th. The technology company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.13. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.61 billion. Arrow Electronics had a return on equity of 24.92% and a net margin of 3.63%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.43 EPS. On average, equities analysts forecast that Arrow Electronics, Inc. will post 16.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America reduced their price objective on Arrow Electronics from $140.00 to $135.00 in a research note on Monday, May 8th. The Goldman Sachs Group upped their price objective on Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. Citigroup upped their price objective on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Truist Financial upped their price objective on Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. Finally, Wells Fargo & Company upped their price objective on Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Hold” and an average price target of $126.71.

Insider Buying and Selling

In related news, Chairman Michael J. Long sold 3,712 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $120.29, for a total value of $446,516.48. Following the sale, the chairman now owns 209,172 shares in the company, valued at approximately $25,161,299.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Michael J. Long sold 3,712 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $120.29, for a total value of $446,516.48. Following the sale, the chairman now owns 209,172 shares in the company, valued at approximately $25,161,299.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $118.00, for a total value of $2,090,960.00. Following the completion of the sale, the chairman now owns 185,472 shares in the company, valued at approximately $21,885,696. The disclosure for this sale can be found here. Insiders have sold a total of 40,429 shares of company stock worth $4,786,856 in the last quarter. Company insiders own 1.00% of the company’s stock.

Arrow Electronics Profile

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.