Denali Advisors LLC Reduces Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Denali Advisors LLC lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 15.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,626 shares of the technology company’s stock after selling 686 shares during the period. Denali Advisors LLC’s holdings in Arrow Electronics were worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ARW. State of Michigan Retirement System increased its position in shares of Arrow Electronics by 1.5% during the first quarter. State of Michigan Retirement System now owns 13,175 shares of the technology company’s stock valued at $1,706,000 after buying an additional 200 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Arrow Electronics by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,816 shares of the technology company’s stock worth $1,400,000 after purchasing an additional 373 shares during the period. ARGA Investment Management LP increased its stake in shares of Arrow Electronics by 768.3% during the first quarter. ARGA Investment Management LP now owns 66,300 shares of the technology company’s stock valued at $8,583,000 after purchasing an additional 58,664 shares in the last quarter. Alaska Permanent Fund Corp lifted its holdings in shares of Arrow Electronics by 14.3% during the first quarter. Alaska Permanent Fund Corp now owns 20,614 shares of the technology company’s stock valued at $2,669,000 after purchasing an additional 2,581 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of Arrow Electronics in the 1st quarter worth approximately $32,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $119.58 on Thursday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $147.42. The firm’s 50-day moving average is $128.08 and its 200 day moving average is $122.54. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 9.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. During the same quarter last year, the firm earned $4.60 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew Charles Kerin sold 1,469 shares of Arrow Electronics stock in a transaction on Friday, May 17th. The stock was sold at an average price of $130.71, for a total value of $192,012.99. Following the completion of the sale, the director now owns 1,520 shares of the company’s stock, valued at $198,679.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $132.59, for a total value of $396,046.33. Following the transaction, the director now directly owns 102 shares in the company, valued at $13,524.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Charles Kerin sold 1,469 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $130.71, for a total value of $192,012.99. Following the sale, the director now directly owns 1,520 shares of the company’s stock, valued at approximately $198,679.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,976 shares of company stock worth $788,183. 0.60% of the stock is owned by insiders.

Arrow Electronics Company 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.