LSV Asset Management Trims Holdings in Arrow Electronics, Inc. (NYSE:ARW)

LSV Asset Management lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,542,460 shares of the technology company’s stock after selling 31,744 shares during the period. LSV Asset Management’s holdings in Arrow Electronics were worth $310,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vinva Investment Management Ltd grew its stake in shares of Arrow Electronics by 4.7% in the third quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company’s stock valued at $243,000 after buying an additional 85 shares in the last quarter. Nilsine Partners LLC grew its position in Arrow Electronics by 2.3% in the 3rd quarter. Nilsine Partners LLC now owns 4,861 shares of the technology company’s stock valued at $609,000 after acquiring an additional 110 shares in the last quarter. Strs Ohio increased its stake in Arrow Electronics by 0.6% during the fourth quarter. Strs Ohio now owns 18,681 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 120 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Arrow Electronics by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,302 shares of the technology company’s stock worth $288,000 after purchasing an additional 127 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Arrow Electronics by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 25,163 shares of the technology company’s stock valued at $3,151,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,134 shares of company stock worth $488,795. 1.00% of the stock is owned by insiders.

Arrow Electronics Stock Up 1.8 %

NYSE:ARW traded up $2.18 during midday trading on Friday, reaching $124.89. The company had a trading volume of 542,271 shares, compared to its average volume of 443,307. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 9.82 and a beta of 1.39. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $123.70 and its 200-day simple moving average is $119.58.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period last year, the business earned $4.60 EPS. The company’s revenue was down 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Arrow Electronics 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.