Envestnet Portfolio Solutions Inc. Reduces Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Envestnet Portfolio Solutions Inc. cut its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,097 shares of the technology company’s stock after selling 137 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Arrow Electronics were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd grew its holdings in shares of Arrow Electronics by 4.7% during the third quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company’s stock worth $243,000 after buying an additional 85 shares in the last quarter. Strs Ohio grew its holdings in shares of 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 buying an additional 120 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings 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 buying an additional 127 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Arrow Electronics by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 25,163 shares of the technology company’s stock worth $3,151,000 after buying an additional 130 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Arrow Electronics by 1.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 10,883 shares of the technology company’s stock worth $1,363,000 after buying an additional 137 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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 that occurred on 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 of the company’s stock, valued at $162,818.58. The sale was disclosed in a filing with the SEC, which is available at this link. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction that occurred on 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 of the company’s stock, valued at $162,818.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at $1,847,791. The disclosure for this sale can be found here. Insiders have sold a total of 8,590 shares of company stock valued at $1,076,854 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $133.64 on Thursday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $147.42. The firm has a 50 day moving average price of $126.24 and a 200 day moving average price of $120.99. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 10.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49.

Arrow Electronics (NYSE:ARW) last released its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. Arrow Electronics’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.60 earnings per share. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARW. Truist Financial lowered their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th. The Goldman Sachs Group boosted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday.

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.