Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 60.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,539 shares of the technology company’s stock after selling 38,923 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Arrow Electronics were worth $2,814,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of ARW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Arrow Electronics by 45.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,748 shares of the technology company’s stock valued at $2,154,000 after buying an additional 6,523 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Arrow Electronics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,971 shares of the technology company’s stock valued at $20,763,000 after buying an additional 14,886 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Arrow Electronics by 68.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company’s stock valued at $37,000 after buying an additional 143 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Arrow Electronics during the 2nd quarter valued at $492,000. Finally, Walleye Capital LLC acquired a new stake in Arrow Electronics during the 2nd quarter valued at $475,000. Institutional investors and hedge funds own 99.34% of the company’s stock.
Arrow Electronics Trading Down 0.1%
Shares of Arrow Electronics stock opened at $184.27 on Monday. Arrow Electronics, Inc. has a fifty-two week low of $101.79 and a fifty-two week high of $193.67. The firm has a market cap of $9.41 billion, a PE ratio of 16.84, a P/E/G ratio of 0.89 and a beta of 1.16. The business’s fifty day moving average is $155.43 and its two-hundred day moving average is $132.18. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.
Wall Street Analyst Weigh In
A number of brokerages have commented on ARW. Wells Fargo & Company increased their target price on Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a report on Friday, February 6th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings upgraded Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Truist Financial upgraded Arrow Electronics from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $183.00 in a report on Monday, April 13th. Finally, Zacks Research upgraded Arrow Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $136.00.
Get Our Latest Analysis on ARW
Insiders Place Their Bets
In other Arrow Electronics news, CEO William F. Austen purchased 3,960 shares of Arrow Electronics stock in a transaction on Thursday, February 19th. The shares were bought at an average price of $151.87 per share, with a total value of $601,405.20. Following the purchase, the chief executive officer directly owned 44,722 shares in the company, valued at $6,791,930.14. This trade represents a 9.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Nowak sold 12,699 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $157.09, for a total value of $1,994,885.91. Following the transaction, the insider directly owned 43,509 shares in the company, valued at approximately $6,834,828.81. This represents a 22.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,199 shares of company stock worth $3,009,786. 0.80% of the stock is owned by company insiders.
About Arrow Electronics
Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.
In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.
Further Reading
Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW – Free Report).
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.
