Allianz Asset Management GmbH Reduces Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Allianz Asset Management GmbH reduced its position in Arrow Electronics, Inc. (NYSE:ARW) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 291,235 shares of the technology company’s stock after selling 7,090 shares during the quarter. Allianz Asset Management GmbH’s holdings in Arrow Electronics were worth $32,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 1.1% in the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after acquiring an additional 20,484 shares during the last quarter. State Street Corp lifted its stake in Arrow Electronics by 0.3% in the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after purchasing an additional 4,811 shares in the last quarter. Lind Value II ApS lifted its stake in Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Arrow Electronics by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock worth $64,281,000 after purchasing an additional 10,340 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Yun Sung Cho sold 237 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. This represents a 10.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Trading Down 0.6 %

Shares of Arrow Electronics stock opened at $111.52 on Monday. The stock has a 50 day moving average of $113.71 and a 200 day moving average of $122.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.53 and a beta of 1.26. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Finally, Truist Financial dropped their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two investment 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.25.

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.