Russell Investments Group Ltd. lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 35.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,233 shares of the technology company’s stock after selling 83,571 shares during the quarter. Russell Investments Group Ltd. owned 0.25% of Arrow Electronics worth $15,817,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its holdings in shares of Arrow Electronics by 31.9% in the fourth quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock valued at $41,000 after buying an additional 94 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of 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 period. SummerHaven Investment Management LLC lifted its position in shares of Arrow Electronics by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 6,928 shares of the technology company’s stock worth $724,000 after purchasing an additional 104 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Arrow Electronics by 4.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,567 shares of the technology company’s stock worth $237,000 after purchasing an additional 109 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Arrow Electronics by 2.9% in the third quarter. Park Avenue Securities LLC now owns 4,059 shares of the technology company’s stock worth $374,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.
Insider Activity at Arrow Electronics
In related news, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $118.00, for a total value of $2,090,960.00. Following the transaction, the chairman now directly owns 185,472 shares in the company, valued at $21,885,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arrow Electronics news, insider Kristin Diana Russell sold 10,306 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total transaction of $1,213,016.20. Following the sale, the insider now directly owns 14,535 shares in the company, valued at $1,710,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael J. Long sold 17,720 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $118.00, for a total transaction of $2,090,960.00. Following the sale, the chairman now owns 185,472 shares in the company, valued at $21,885,696. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,010 shares of company stock worth $4,612,191. Corporate insiders own 1.10% of the company’s stock.
Arrow Electronics Price Performance
Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $4.60 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.13. Arrow Electronics had a net margin of 3.63% and a return on equity of 24.92%. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.61 billion. During the same period in the prior year, the firm earned $5.43 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Arrow Electronics, Inc. will post 15.8 EPS for the current year.
Wall Street Analysts Forecast Growth
ARW has been the topic of a number of research reports. Raymond James boosted their price objective on shares of Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. StockNews.com lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Wells Fargo & Company upped their price target on shares of Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Finally, Truist Financial upped their price target on shares of Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.71.
About Arrow Electronics
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.
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