Gotham Asset Management LLC Sells 10,677 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Gotham Asset Management LLC trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 58.9% in the 4th quarter, Holdings Channel reports. The fund owned 7,435 shares of the technology company’s stock after selling 10,677 shares during the quarter. Gotham Asset Management LLC’s holdings in Arrow Electronics were worth $841,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Arrow Electronics by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,930,459 shares of the technology company’s stock valued at $331,493,000 after purchasing an additional 91,310 shares during the last quarter. Boston Partners grew its position in Arrow Electronics by 14.8% during the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after purchasing an additional 318,329 shares during the last quarter. Greenhaven Associates Inc. grew its position in Arrow Electronics by 1.1% during the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after purchasing an additional 20,484 shares during the last quarter. Fiduciary Management Inc. WI grew its position in Arrow Electronics by 44.1% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company’s stock valued at $175,214,000 after purchasing an additional 473,909 shares during the last quarter. Finally, Earnest Partners LLC grew its position in Arrow Electronics by 5.5% during the 4th quarter. Earnest Partners LLC now owns 1,486,157 shares of the technology company’s stock valued at $168,114,000 after purchasing an additional 77,396 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

Shares of NYSE ARW opened at $121.88 on Friday. The firm’s 50-day moving average price is $106.87 and its 200-day moving average price is $112.06. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.32 billion, a PE ratio of 16.74, a PEG ratio of 0.52 and a beta of 1.10. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.41 EPS. As a group, analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.25.

Insider Activity

In related news, CAO Yun Sung Cho sold 353 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total value of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Nowak sold 4,952 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the completion of the transaction, the insider now directly owns 43,895 shares in the company, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,763 shares of company stock valued at $824,095 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Company 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.