Wells Fargo & Company MN Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Wells Fargo & Company MN reduced its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 74.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,038 shares of the technology company’s stock after selling 48,580 shares during the period. Wells Fargo & Company MN’s holdings in Arrow Electronics were worth $1,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Boston Partners boosted its holdings in Arrow Electronics by 14.8% during the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock worth $280,138,000 after buying an additional 318,329 shares in the last quarter. Lind Value II ApS boosted its stake in shares of Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after acquiring an additional 172,669 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock valued at $41,948,000 after acquiring an additional 168,904 shares during the period. Norges Bank purchased a new position in shares of Arrow Electronics in the 4th quarter valued at about $11,741,000. Finally, Fisher Funds Management LTD acquired a new position in Arrow Electronics in the 4th quarter worth about $7,455,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $111.83 on Friday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 15.36, a PEG ratio of 0.52 and a beta of 1.18. The business has a 50 day simple moving average of $104.32 and a two-hundred day simple moving average of $113.87. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William F. Austen bought 1,900 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now directly owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Yun Sung Cho sold 353 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total value of $39,574.83. Following the completion of the sale, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. This represents a 18.56 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ARW shares. Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and a consensus price target of $121.25.

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.