Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by DNB Asset Management AS

DNB Asset Management AS reduced its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 626,964 shares of the technology company’s stock after selling 210,101 shares during the quarter. DNB Asset Management AS owned approximately 1.02% of Arrow Electronics worth $65,562,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ARW. Deutsche Bank AG boosted its position in shares of Arrow Electronics by 244.9% during the 2nd quarter. Deutsche Bank AG now owns 631,752 shares of the technology company’s stock worth $70,811,000 after acquiring an additional 448,593 shares in the last quarter. Towle & Co boosted its position in shares of Arrow Electronics by 7,977.7% in the 2nd quarter. Towle & Co now owns 210,020 shares of the technology company’s stock valued at $23,541,000 after purchasing an additional 207,420 shares during the period. AQR Capital Management LLC boosted its position in shares of Arrow Electronics by 8.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,467,162 shares of the technology company’s stock valued at $269,562,000 after purchasing an additional 193,574 shares during the period. Edgestream Partners L.P. boosted its position in shares of Arrow Electronics by 1,012.1% in the 3rd quarter. Edgestream Partners L.P. now owns 175,450 shares of the technology company’s stock valued at $16,175,000 after purchasing an additional 159,673 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Arrow Electronics in the 3rd quarter valued at about $14,240,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arrow Electronics

In other news, insider Kristin Diana Russell sold 10,306 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $117.70, for a total transaction of $1,213,016.20. Following the completion of the transaction, the insider now directly owns 14,535 shares of the company’s stock, valued at approximately $1,710,769.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Michael J. Long sold 884 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total transaction of $106,080.00. Following the completion of the transaction, the chairman now directly owns 208,288 shares of the company’s stock, valued at approximately $24,994,560. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kristin Diana Russell sold 10,306 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $117.70, for a total value of $1,213,016.20. Following the transaction, the insider now directly owns 14,535 shares of the company’s stock, valued at $1,710,769.50. The disclosure for this sale can be found here. In the last three months, insiders sold 39,010 shares of company stock valued at $4,612,191. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

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

Arrow Electronics Stock Performance

ARW traded down $0.81 on Friday, hitting $116.60. 1,733,842 shares of the company traded hands, compared to its average volume of 427,307. The company has a 50 day moving average of $119.30 and a 200-day moving average of $108.25. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6.80 billion, a PE ratio of 5.35, a PEG ratio of 1.86 and a beta of 1.41. Arrow Electronics, Inc. has a 12-month low of $89.38 and a 12-month high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The technology company reported $5.69 EPS for the quarter, beating the consensus estimate of $5.68 by $0.01. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.31 billion. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.37 EPS. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 15.8 earnings per share for the current year.

Arrow Electronics Company 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.