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

Corebridge Financial Inc. trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,507 shares of the technology company’s stock after selling 3,102 shares during the period. Corebridge Financial Inc.’s holdings in Arrow Electronics were worth $6,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Boston Partners raised its holdings in Arrow Electronics by 14.8% in the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after acquiring an additional 318,329 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in shares of Arrow Electronics by 1.1% during the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock worth $215,477,000 after purchasing an additional 20,484 shares in the last quarter. State Street Corp increased its position in shares of Arrow Electronics by 0.3% in the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after purchasing an additional 4,811 shares during the period. Sei Investments Co. raised its stake in 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, Lind Value II ApS lifted its position in Arrow Electronics by 36.3% during the fourth 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 period. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARW has been the subject of several analyst reports. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.25.

Insider Activity at Arrow Electronics

In other news, CAO Yun Sung Cho sold 237 shares of the company’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 value of $25,769.01. Following the completion of the transaction, the chief accounting officer now owns 2,086 shares of the company’s stock, valued at $226,810.78. This represents a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William F. Austen bought 1,900 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the transaction, the director now owns 7,858 shares in the company, valued at $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Arrow Electronics Stock Down 1.7 %

Shares of NYSE ARW opened at $103.55 on Friday. The stock has a 50-day moving average price of $109.95 and a two-hundred day moving average price of $118.39. Arrow Electronics, Inc. has a 12 month low of $101.78 and a 12 month 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 company has a market cap of $5.40 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS 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%. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

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.