Allianz Asset Management GmbH Cuts Stake in Arrow Electronics, Inc. (NYSE:ARW)

Allianz Asset Management GmbH cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,235 shares of the technology company’s stock after selling 7,090 shares during the period. Allianz Asset Management GmbH owned 0.55% of Arrow Electronics worth $32,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARW. Creative Planning increased its position in Arrow Electronics by 1.1% during the 3rd quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after buying an additional 123 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Arrow Electronics by 60.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,313 shares of the technology company’s stock valued at $971,000 after acquiring an additional 2,748 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Arrow Electronics by 9.2% during the third quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock valued at $240,000 after acquiring an additional 153 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Arrow Electronics in the 3rd quarter valued at approximately $317,000. Finally, International Assets Investment Management LLC acquired a new stake in Arrow Electronics in the 3rd quarter worth approximately $54,170,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ARW shares. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company cut their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Raymond James dropped their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $121.25.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $108.73, for a total value of $25,769.01. Following the completion of the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Arrow Electronics Stock Down 0.6 %

ARW stock opened at $111.52 on Monday. The company has a market capitalization of $5.82 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.53 and a beta of 1.26. Arrow Electronics, Inc. has a 12 month low of $105.00 and a 12 month high of $137.80. The firm’s fifty day simple moving average is $113.71 and its 200-day simple moving average is $122.38. 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 results 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 net margin of 1.40% and a return on equity of 9.69%. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

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.