PNC Financial Services Group Inc. Lowers Holdings in Arrow Electronics, Inc. (NYSE:ARW)

PNC Financial Services Group Inc. lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,845 shares of the technology company’s stock after selling 178 shares during the period. PNC Financial Services Group Inc.’s holdings in Arrow Electronics were worth $887,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ARW. True Wealth Design LLC acquired a new position in shares of Arrow Electronics during the third quarter worth about $31,000. Brooklyn Investment Group purchased a new position in shares of Arrow Electronics during the third quarter worth about $40,000. Principal Securities Inc. lifted its stake in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after buying an additional 126 shares during the last quarter. Parkside Financial Bank & Trust grew its position in 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, IFP Advisors Inc raised its stake in Arrow Electronics by 26.5% during the 4th quarter. IFP Advisors Inc now owns 630 shares of the technology company’s stock valued at $71,000 after acquiring an additional 132 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arrow Electronics

In other news, Director William F. Austen bought 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, with a total value of $197,828.00. Following the purchase, the director now directly owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Yun Sung Cho sold 237 shares of the firm’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 transaction of $25,769.01. Following the completion of the sale, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Arrow Electronics Stock Up 0.9 %

NYSE:ARW opened at $105.62 on Tuesday. The stock has a 50-day simple moving average of $111.17 and a 200 day simple moving average of $119.71. Arrow Electronics, Inc. has a one year low of $101.78 and a one year high of $137.80. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results 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 return on equity of 9.69% and a net margin of 1.40%. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on ARW. Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.25.

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.