Pinebridge Investments L.P. Sells 25,774 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Pinebridge Investments L.P. reduced its stake in Arrow Electronics, Inc. (NYSE:ARWFree Report) by 93.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,806 shares of the technology company’s stock after selling 25,774 shares during the quarter. Pinebridge Investments L.P.’s holdings in Arrow Electronics were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Arrow Electronics by 10.4% in the 4th quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock valued at $748,000 after purchasing an additional 575 shares during the period. Oak Thistle LLC bought a new stake in shares of Arrow Electronics during the 4th quarter worth approximately $1,012,000. AustralianSuper Pty Ltd lifted its holdings in shares of Arrow Electronics by 172.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 92,990 shares of the technology company’s stock worth $11,368,000 after acquiring an additional 58,866 shares during the period. Lecap Asset Management Ltd. bought a new position in Arrow Electronics in the 4th quarter valued at approximately $1,259,000. Finally, Norges Bank bought a new position in Arrow Electronics in the 4th quarter valued at approximately $79,027,000. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Trading Down 0.2 %

NYSE:ARW opened at $131.69 on Monday. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $147.42. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 10.35 and a beta of 1.30. The firm has a fifty day simple moving average of $128.05 and a two-hundred day simple moving average of $121.82. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46.

Arrow Electronics (NYSE:ARWGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period last year, the firm earned $4.60 earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. Analysts expect that Arrow Electronics, Inc. will post 10.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th.

View Our Latest Analysis on Arrow Electronics

Insider Buying and Selling

In related news, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total transaction of $200,123.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $132.59, for a total value of $396,046.33. Following the transaction, the director now directly owns 102 shares in the company, valued at $13,524.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total transaction of $200,123.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,976 shares of company stock worth $788,183. 1.00% of the stock is owned by insiders.

Arrow Electronics Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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