Northwestern Mutual Wealth Management Co. reduced its stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 27.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 489 shares of the technology company’s stock after selling 182 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Arrow Electronics were worth $51,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ARW. Operose Advisors LLC purchased a new position in shares of Arrow Electronics in the 1st quarter valued at approximately $31,000. Golden State Wealth Management LLC increased its holdings in Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the period. Covestor Ltd increased its holdings in Arrow Electronics by 14.9% in the 1st quarter. Covestor Ltd now owns 1,118 shares of the technology company’s stock worth $116,000 after buying an additional 145 shares during the period. Exchange Traded Concepts LLC acquired a new position in Arrow Electronics in the 1st quarter worth approximately $120,000. Finally, Lindbrook Capital LLC increased its holdings in Arrow Electronics by 300.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company’s stock worth $161,000 after buying an additional 1,163 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Price Performance
Shares of NYSE ARW opened at $127.40 on Friday. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.60 and a beta of 1.09. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80. The firm’s 50 day simple moving average is $126.78 and its 200-day simple moving average is $117.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.07.
Analysts Set New Price Targets
Several equities analysts recently weighed in on ARW shares. Bank of America increased their price target on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Reduce” and a consensus target price of $115.75.
View Our Latest Research Report on ARW
Insider Buying and Selling at Arrow Electronics
In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the transaction, the senior vice president directly owned 17,057 shares of the company’s stock, valued at $2,125,984.48. The trade was a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean J. Kerins bought 8,630 shares of the company’s stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $114.91 per share, with a total value of $991,673.30. Following the completion of the transaction, the chief executive officer owned 122,408 shares in the company, valued at $14,065,903.28. This represents a 7.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by 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.
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