abrdn plc Sells 836 Shares of Arrow Electronics, Inc. (NYSE:ARW)

abrdn plc lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 9.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,906 shares of the technology company’s stock after selling 836 shares during the quarter. abrdn plc’s holdings in Arrow Electronics were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. PGGM Investments bought a new position in shares of Arrow Electronics during the 3rd quarter worth $6,344,000. Jump Financial LLC bought a new stake in Arrow Electronics during the third quarter valued at about $323,000. Fulton Bank N.A. bought a new stake in Arrow Electronics during the fourth quarter valued at about $269,000. Intech Investment Management LLC boosted its position in Arrow Electronics by 7.7% during the third quarter. Intech Investment Management LLC now owns 7,211 shares of the technology company’s stock valued at $665,000 after purchasing an additional 517 shares in the last quarter. Finally, Greenleaf Trust boosted its position in Arrow Electronics by 12.0% during the fourth quarter. Greenleaf Trust now owns 3,480 shares of the technology company’s stock valued at $364,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Michael J. Long sold 3,712 shares of Arrow Electronics stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $120.29, for a total transaction of $446,516.48. Following the transaction, the chairman now owns 209,172 shares in the company, valued at $25,161,299.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,419 shares of Arrow Electronics stock in a transaction on Friday, May 19th. The stock was sold at an average price of $123.09, for a total value of $174,664.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael J. Long sold 3,712 shares of Arrow Electronics stock in a transaction on Monday, March 6th. The shares were sold at an average price of $120.29, for a total value of $446,516.48. Following the completion of the sale, the chairman now owns 209,172 shares in the company, valued at approximately $25,161,299.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,429 shares of company stock worth $4,786,856. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Stock Up 4.4 %

Shares of ARW opened at $125.98 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $118.32 and its two-hundred day moving average is $115.06. The firm has a market cap of $7.12 billion, a P/E ratio of 5.98, a PEG ratio of 1.91 and a beta of 1.40. Arrow Electronics, Inc. has a 12 month low of $89.38 and a 12 month high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.13. The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.61 billion. Arrow Electronics had a return on equity of 24.92% and a net margin of 3.63%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.43 earnings per share. Analysts predict that Arrow Electronics, Inc. will post 16.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Raymond James raised their price objective on Arrow Electronics from $125.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. The Goldman Sachs Group increased their price target on Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. Citigroup increased their price target on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Wells Fargo & Company increased their price target on Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Finally, Truist Financial raised their price objective on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $126.71.

Arrow Electronics Profile

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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.