Kendall Capital Management Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Kendall Capital Management lowered its position in Arrow Electronics, Inc. (NYSE:ARW) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,540 shares of the technology company’s stock after selling 890 shares during the quarter. Arrow Electronics comprises about 1.1% of Kendall Capital Management’s holdings, making the stock its 18th biggest holding. Kendall Capital Management’s holdings in Arrow Electronics were worth $2,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vinva Investment Management Ltd grew its holdings 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 purchasing an additional 85 shares during the period. Gladius Capital Management LP grew its holdings in shares of Arrow Electronics by 27.1% in the third quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock valued at $55,000 after purchasing an additional 94 shares during the period. IFP Advisors Inc lifted its position in Arrow Electronics by 33.0% in the third quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Arrow Electronics by 3.5% in the first quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company’s stock valued at $358,000 after buying an additional 101 shares during the last quarter. Finally, Nilsine Partners LLC lifted its position in Arrow Electronics by 2.3% in the third quarter. Nilsine Partners LLC now owns 4,861 shares of the technology company’s stock valued at $609,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Down 2.1 %

NYSE ARW traded down $2.72 during trading hours on Wednesday, reaching $126.30. The company had a trading volume of 58,695 shares, compared to its average volume of 548,966. The stock has a market capitalization of $6.82 billion, a P/E ratio of 8.17 and a beta of 1.41. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $119.20 and a 200 day moving average of $119.11.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.26. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.84 billion. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The firm’s revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.69 earnings per share. As a group, research analysts anticipate that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the transaction, the insider now owns 12,108 shares in the company, valued at $1,410,097.68. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock worth $488,795 over the last three months. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial decreased 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 report on Friday, February 9th. StockNews.com cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th.

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.