Beverly Hills Private Wealth LLC Sells 310 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Beverly Hills Private Wealth LLC trimmed its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,125 shares of the technology company’s stock after selling 310 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Arrow Electronics were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARW. Panagora Asset Management Inc. increased its stake in shares of Arrow Electronics by 12.3% in the 1st quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock worth $413,000 after purchasing an additional 380 shares in the last quarter. Blair William & Co. IL bought a new stake in Arrow Electronics during the first quarter valued at about $273,000. Prudential PLC purchased a new stake in Arrow Electronics in the first quarter worth about $302,000. Cetera Investment Advisers bought a new position in shares of Arrow Electronics in the first quarter worth about $275,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics during the 1st quarter valued at about $52,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 2.7 %

ARW opened at $124.25 on Monday. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 7.87 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39. The firm’s fifty day moving average is $120.09 and its 200 day moving average is $119.11. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $147.42.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.72 by $0.26. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The business’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.69 earnings per share. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Activity

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,134 shares of company stock worth $488,795. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

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.