Mutual of America Capital Management LLC Lowers Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Mutual of America Capital Management LLC decreased its position in Arrow Electronics, Inc. (NYSE:ARW) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,614 shares of the technology company’s stock after selling 2,698 shares during the period. Mutual of America Capital Management LLC’s holdings in Arrow Electronics were worth $4,109,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC purchased a new position in Arrow Electronics during the fourth quarter worth approximately $230,362,000. AQR Capital Management LLC lifted its position in shares of Arrow Electronics by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,957,225 shares of the technology company’s stock valued at $245,123,000 after buying an additional 43,790 shares in the last quarter. Greenhaven Associates Inc. grew its stake in Arrow Electronics by 3.9% in the 4th quarter. Greenhaven Associates Inc. now owns 1,826,528 shares of the technology company’s stock valued at $223,293,000 after acquiring an additional 69,400 shares during the period. Millennium Management LLC increased its holdings in Arrow Electronics by 25.9% in the 4th quarter. Millennium Management LLC now owns 1,255,591 shares of the technology company’s stock worth $131,297,000 after acquiring an additional 258,224 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after acquiring an additional 349,561 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped 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.

Arrow Electronics Price Performance

NYSE:ARW opened at $123.44 on Wednesday. The firm has a market cap of $6.66 billion, a P/E ratio of 7.82 and a beta of 1.41. The stock has a 50 day moving average of $120.63 and a two-hundred day moving average of $119.06. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $147.42. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS 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 prior year, the company earned $5.69 EPS. The firm’s revenue was down 15.8% compared to the same quarter last year. On average, analysts expect that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

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

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.