Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. lowered its position in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 372,447 shares of the technology company’s stock after selling 30,602 shares during the period. UBS Asset Management Americas Inc. owned about 0.61% of Arrow Electronics worth $34,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ARW. Deutsche Bank AG lifted its position in Arrow Electronics by 244.9% in the second quarter. Deutsche Bank AG now owns 631,752 shares of the technology company’s stock valued at $70,811,000 after purchasing an additional 448,593 shares during the period. Towle & Co lifted its position in Arrow Electronics by 7,977.7% in the second quarter. Towle & Co now owns 210,020 shares of the technology company’s stock valued at $23,541,000 after purchasing an additional 207,420 shares during the period. AQR Capital Management LLC lifted its position in Arrow Electronics by 8.5% in the second quarter. AQR Capital Management LLC now owns 2,467,162 shares of the technology company’s stock valued at $269,562,000 after purchasing an additional 193,574 shares during the period. Edgestream Partners L.P. lifted its position in shares of Arrow Electronics by 1,012.1% during the 3rd quarter. Edgestream Partners L.P. now owns 175,450 shares of the technology company’s stock valued at $16,175,000 after acquiring an additional 159,673 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Arrow Electronics during the 3rd quarter valued at approximately $14,240,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In other Arrow Electronics news, Chairman Michael J. Long sold 884 shares of Arrow Electronics stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $120.00, for a total value of $106,080.00. Following the completion of the sale, the chairman now directly owns 208,288 shares of the company’s stock, valued at approximately $24,994,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kristin Diana Russell sold 10,306 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 14,535 shares of the company’s stock, valued at approximately $1,710,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael J. Long sold 884 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $120.00, for a total transaction of $106,080.00. Following the sale, the chairman now directly owns 208,288 shares of the company’s stock, valued at $24,994,560. The disclosure for this sale can be found here. In the last three months, insiders sold 14,902 shares of company stock valued at $1,765,613. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James lifted their price target on shares of Arrow Electronics from $125.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Wells Fargo & Company lifted their price target on shares of Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. The Goldman Sachs Group lifted their price target on shares of Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Citigroup lifted their price target on shares of Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Finally, Truist Financial lifted their price target on shares of Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.33.

Arrow Electronics Trading Down 0.9 %

Shares of ARW opened at $115.00 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.48 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $118.55 and a 200-day simple moving average of $107.98. Arrow Electronics, Inc. has a 1-year low of $89.38 and a 1-year high of $134.56. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

Arrow Electronics (NYSE:ARW – Get Rating) last released its earnings results on Thursday, February 2nd. The technology company reported $5.69 EPS for the quarter, topping the consensus estimate of $5.68 by $0.01. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.31 billion. Arrow Electronics had a net margin of 3.84% and a return on equity of 26.96%. Arrow Electronics’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.37 EPS. Equities analysts forecast that Arrow Electronics, Inc. will post 15.8 EPS for the current fiscal year.

Arrow Electronics Profile

(Get Rating)

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.