Envestnet Asset Management Inc. Sells 2,359 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Envestnet Asset Management Inc. lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,393 shares of the technology company’s stock after selling 2,359 shares during the quarter. Envestnet Asset Management Inc. owned about 0.29% of Arrow Electronics worth $15,512,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in Arrow Electronics during the fourth quarter valued at $31,000. Golden State Wealth Management LLC boosted its position in shares of Arrow Electronics by 111.7% during the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Arrow Electronics during the 4th quarter worth about $47,000. CoreFirst Bank & Trust bought a new position in shares of Arrow Electronics during the 4th quarter worth about $55,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Arrow Electronics during the 1st quarter worth about $120,000. Institutional investors own 99.34% of the company’s stock.

Insider Transactions at Arrow Electronics

In related news, Director Gail Hamilton sold 1,458 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the transaction, the director directly owned 101 shares in the company, valued at approximately $12,361.39. The trade was a 93.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $606,075.28. Following the completion of the transaction, the insider owned 43,895 shares of the company’s stock, valued at $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock worth $1,116,062 in the last quarter. Insiders own 1.00% of the company’s stock.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $130.86 on Friday. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The company’s 50 day moving average price is $124.55 and its two-hundred day moving average price is $114.16. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.79 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.65 and a beta of 1.10.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. During the same quarter last year, the business posted $2.41 EPS. Arrow Electronics’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America increased their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Monday, June 9th.

Arrow Electronics Company Profile

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.