AGF Management Ltd. Cuts Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

AGF Management Ltd. lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 7.9% in the 4th quarter, HoldingsChannel reports. The firm owned 21,284 shares of the technology company’s stock after selling 1,826 shares during the quarter. AGF Management Ltd.’s holdings in Arrow Electronics were worth $2,408,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Meixler Investment Management Ltd. raised its stake in Arrow Electronics by 2.6% in the fourth quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company’s stock worth $387,000 after buying an additional 88 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Arrow Electronics by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company’s stock valued at $539,000 after acquiring an additional 89 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Arrow Electronics by 2.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after acquiring an additional 108 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Arrow Electronics by 24.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock worth $64,000 after purchasing an additional 112 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.25.

Insiders Place Their Bets

In other news, Director William F. Austen acquired 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the purchase, the director now directly owns 7,858 shares in the company, valued at $818,174.96. This trade represents a 31.89 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the sale, the chief accounting officer now directly owns 1,549 shares in the company, valued at $173,658.39. This trade represents a 18.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Arrow Electronics Trading Down 0.6 %

Shares of NYSE:ARW opened at $101.93 on Friday. The business’s 50-day moving average is $111.66 and its 200 day moving average is $120.44. 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, Inc. has a 1 year low of $101.78 and a 1 year high of $137.80. The firm has a market capitalization of $5.32 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (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%. On average, research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Arrow Electronics 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.