DNB Asset Management AS Cuts Stake in Arrow Electronics, Inc. (NYSE:ARW)

DNB Asset Management AS cut its stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 25.1% during the 4th quarter, HoldingsChannel reports. The firm owned 626,964 shares of the technology company’s stock after selling 210,101 shares during the quarter. DNB Asset Management AS’s holdings in Arrow Electronics were worth $65,562,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. grew its stake in Arrow Electronics by 3.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company’s stock worth $358,000 after buying an additional 101 shares during the last quarter. Synovus Financial Corp grew its stake in Arrow Electronics by 3.5% during the 2nd quarter. Synovus Financial Corp now owns 3,232 shares of the technology company’s stock worth $359,000 after buying an additional 108 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Arrow Electronics by 4.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,567 shares of the technology company’s stock worth $237,000 after buying an additional 109 shares during the last quarter. IFM Investors Pty Ltd grew its stake in Arrow Electronics by 0.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,119 shares of the technology company’s stock worth $1,209,000 after buying an additional 110 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Arrow Electronics by 2.9% during the 3rd quarter. Park Avenue Securities LLC now owns 4,059 shares of the technology company’s stock worth $374,000 after buying an additional 116 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Michael J. Long sold 884 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total value of $106,080.00. Following the completion of the sale, the chairman now owns 208,288 shares in the company, valued at $24,994,560. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Michael J. Long sold 884 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total value of $106,080.00. Following the completion of the sale, the chairman now owns 208,288 shares in the company, valued at $24,994,560. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carine Lamercie Jean-Claude sold 1,292 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $118.00, for a total value of $152,456.00. Following the completion of the sale, the senior vice president now owns 13,400 shares of the company’s stock, valued at approximately $1,581,200. The disclosure for this sale can be found here. Insiders sold a total of 39,010 shares of company stock worth $4,612,191 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ARW has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Raymond James upped their price objective on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. The Goldman Sachs Group upped their price objective on Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Truist Financial boosted their price target on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, February 3rd. Finally, StockNews.com lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.33.

Arrow Electronics Stock Performance

ARW stock traded down $0.81 during trading on Friday, reaching $116.60. 1,733,842 shares of the company’s stock were exchanged, compared to its average volume of 427,307. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.57. Arrow Electronics, Inc. has a 1-year low of $89.38 and a 1-year high of $134.56. The company’s fifty day moving average price is $119.30 and its 200-day moving average price is $108.25. The firm has a market cap of $6.80 billion, a PE ratio of 5.35, a P/E/G ratio of 1.86 and a beta of 1.41.

Arrow Electronics (NYSE:ARW – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The technology company reported $5.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.68 by $0.01. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.31 billion. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.37 EPS. On average, research analysts expect that Arrow Electronics, Inc. will post 15.8 EPS for the current fiscal year.

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.