Allspring Global Investments Holdings LLC Purchases 45,373 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Allspring Global Investments Holdings LLC boosted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 58.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,987 shares of the technology company’s stock after purchasing an additional 45,373 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arrow Electronics were worth $15,035,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ARW. Panagora Asset Management Inc. increased its stake in Arrow Electronics by 12.3% in the first quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock worth $413,000 after purchasing an additional 380 shares during the period. Blair William & Co. IL purchased a new position in Arrow Electronics in the 1st quarter worth about $273,000. Prudential PLC bought a new stake in Arrow Electronics during the 1st quarter valued at about $302,000. Cetera Investment Advisers bought a new stake in Arrow Electronics during the 1st quarter valued at about $275,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics in the 1st quarter valued at about $52,000. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Truist Financial reduced their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research report on Friday, February 9th.

Insider Transactions at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the transaction, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at $162,818.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,134 shares of company stock valued at $488,795. Company insiders own 0.60% of the company’s stock.

Arrow Electronics Trading Down 0.7 %

Shares of NYSE ARW opened at $123.40 on Tuesday. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $147.42. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $120.36 and a two-hundred day simple moving average of $119.07. The firm has a market cap of $6.66 billion, a PE ratio of 7.82 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the previous year, the company posted $5.69 earnings per share. The firm’s quarterly revenue was down 15.8% on a year-over-year basis. Analysts expect that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

About Arrow Electronics

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.