Caitong International Asset Management Co. Ltd Sells 622 Shares of Arrow Electronics, Inc. $ARW

Caitong International Asset Management Co. Ltd lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 60.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 413 shares of the technology company’s stock after selling 622 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Arrow Electronics were worth $43,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Beverly Hills Private Wealth LLC grew its holdings in Arrow Electronics by 4.2% during the first quarter. Beverly Hills Private Wealth LLC now owns 2,643 shares of the technology company’s stock worth $274,000 after purchasing an additional 106 shares during the period. Net Worth Advisory Group grew its holdings in Arrow Electronics by 1.8% during the first quarter. Net Worth Advisory Group now owns 6,724 shares of the technology company’s stock worth $698,000 after purchasing an additional 117 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Arrow Electronics by 2.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,887 shares of the technology company’s stock worth $507,000 after purchasing an additional 121 shares during the period. Fulton Bank N.A. grew its holdings in Arrow Electronics by 6.4% during the first quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company’s stock worth $210,000 after purchasing an additional 122 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in Arrow Electronics by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 6,577 shares of the technology company’s stock worth $683,000 after purchasing an additional 124 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Down 1.7%

Shares of NYSE:ARW opened at $123.77 on Monday. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The stock has a market cap of $6.37 billion, a PE ratio of 14.00, a P/E/G ratio of 0.59 and a beta of 1.10. The business has a 50 day moving average of $126.37 and a 200-day moving average of $115.49. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.37.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Buying and Selling

In other Arrow Electronics news, CEO Sean J. Kerins purchased 8,630 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the completion of the transaction, the chief executive officer owned 122,408 shares in the company, valued at approximately $14,065,903.28. This represents a 7.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the sale, the senior vice president owned 17,057 shares of the company’s stock, valued at approximately $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

ARW has been the subject of a number of research analyst reports. Bank of America lifted their price target on Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Monday, June 9th. Wall Street Zen upgraded Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $115.75.

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.