Te Ahumairangi Investment Management Ltd Sells 2,270 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Te Ahumairangi Investment Management Ltd cut its stake in Arrow Electronics, Inc. (NYSE:ARW) by 7.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,577 shares of the technology company’s stock after selling 2,270 shares during the period. Te Ahumairangi Investment Management Ltd owned about 0.06% of Arrow Electronics worth $3,346,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Arrow Electronics in the 4th quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics in the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in Arrow Electronics during the fourth quarter valued at approximately $47,000. Principal Securities Inc. raised its stake in shares of Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after acquiring an additional 126 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Arrow Electronics in the 4th quarter worth approximately $55,000. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Down 0.6 %

NYSE:ARW opened at $103.18 on Wednesday. The firm has a market capitalization of $5.35 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $109.37 and a 200 day moving average of $118.02. Arrow Electronics, Inc. has a 52 week low of $101.78 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Insider Transactions at Arrow Electronics

In related news, Director William F. Austen bought 1,900 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, with a total value of $197,828.00. Following the transaction, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Yun Sung Cho sold 237 shares of Arrow Electronics stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.