Peapack Gladstone Financial Corp Cuts Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Peapack Gladstone Financial Corp decreased its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,039 shares of the technology company’s stock after selling 625 shares during the quarter. Peapack Gladstone Financial Corp owned 0.09% of Arrow Electronics worth $5,207,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Arrow Electronics

In other news, Director William F. Austen bought 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $104.12 per share, with a total value of $197,828.00. Following the acquisition, the director now owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total value of $25,769.01. Following the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. This represents a 10.20 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Arrow Electronics Trading Down 4.1 %

ARW opened at $92.21 on Monday. The business’s 50-day simple moving average is $108.08 and its 200-day simple moving average is $117.36. The company has a market cap of $4.78 billion, a P/E ratio of 12.67, a PEG ratio of 0.52 and a beta of 1.18. Arrow Electronics, Inc. has a one year low of $87.15 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Arrow Electronics Company 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.