Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Arrow Electronics, Inc. (NYSE:ARW) by 91.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,231 shares of the technology company’s stock after selling 189,323 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Arrow Electronics were worth $2,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARW. Assenagon Asset Management S.A. raised its holdings in shares of Arrow Electronics by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after buying an additional 409,810 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Arrow Electronics by 67.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock valued at $118,527,000 after buying an additional 380,383 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock valued at $145,244,000 after buying an additional 349,561 shares during the period. Invesco Ltd. raised its holdings in shares of Arrow Electronics by 37.8% in the 3rd quarter. Invesco Ltd. now owns 826,096 shares of the technology company’s stock valued at $103,460,000 after buying an additional 226,769 shares during the period. Finally, Greenhaven Associates Inc. raised its holdings in shares of 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 buying an additional 69,400 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $127.58 on Thursday. The stock’s 50-day moving average is $121.78 and its two-hundred day moving average is $119.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.00. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 8.08 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, topping 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 company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the business earned $5.69 EPS. Arrow Electronics’s revenue was down 15.8% on a year-over-year basis. Analysts forecast that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

Insider Transactions at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s 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 directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,134 shares of company stock valued at $488,795. 0.60% of the stock is currently owned by corporate insiders.

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.