Citigroup Inc. Lowers Position in Arrow Electronics, Inc. (NYSE:ARW)

Citigroup Inc. decreased its position in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,067 shares of the technology company’s stock after selling 11,248 shares during the period. Citigroup Inc. owned about 0.10% of Arrow Electronics worth $6,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cooke & Bieler LP boosted its holdings in Arrow Electronics by 7.6% during the fourth quarter. Cooke & Bieler LP now owns 3,506,480 shares of the technology company’s stock worth $366,673,000 after buying an additional 246,657 shares in the last quarter. LSV Asset Management raised its position in shares of Arrow Electronics by 4.4% in the third quarter. LSV Asset Management now owns 2,943,260 shares of the technology company’s stock valued at $271,339,000 after buying an additional 123,268 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Arrow Electronics by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 786,209 shares of the technology company’s stock valued at $72,480,000 after buying an additional 40,754 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Arrow Electronics by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 468,397 shares of the technology company’s stock valued at $55,566,000 after buying an additional 10,873 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Arrow Electronics by 51.6% during the third quarter. Allianz Asset Management GmbH now owns 420,345 shares of the technology company’s stock worth $38,752,000 after purchasing an additional 143,058 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target 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 upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 13th. Citigroup boosted their price objective on shares of Arrow Electronics from $115.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Finally, 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 note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.71.

Arrow Electronics Stock Down 0.6 %

ARW stock opened at $123.22 on Friday. The stock has a market cap of $6.96 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.62 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $117.75 and its 200 day simple moving average is $114.48. Arrow Electronics, Inc. has a fifty-two week low of $89.38 and a fifty-two week high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last released its earnings results on Thursday, May 4th. The technology company reported $4.60 EPS 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 firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.61 billion. During the same quarter last year, the company earned $5.43 EPS. Arrow Electronics’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Arrow Electronics, Inc. will post 15.82 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kristin Diana Russell sold 10,306 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total value 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 $1,710,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kristin Diana Russell sold 10,306 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 14,535 shares of the company’s stock, valued at $1,710,769.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael J. Long sold 3,712 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $120.29, for a total transaction of $446,516.48. Following the transaction, the chairman now directly owns 209,172 shares in the company, valued at approximately $25,161,299.88. The disclosure for this sale can be found here. Insiders sold a total of 39,010 shares of company stock worth $4,612,191 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

About Arrow Electronics

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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.