Insider Selling: Arrow Electronics, Inc. (NYSE:ARW) Director Sells $192,012.99 in Stock

Arrow Electronics, Inc. (NYSE:ARW) Director Andrew Charles Kerin sold 1,469 shares of Arrow Electronics stock in a transaction on Friday, May 17th. The shares were 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 directly owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arrow Electronics Stock Up 1.2 %

Shares of Arrow Electronics stock opened at $133.64 on Thursday. The business has a fifty day simple moving average of $126.24 and a 200 day simple moving average of $120.99. The stock has a market cap of $7.11 billion, a PE ratio of 10.51 and a beta of 1.39. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $147.42.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.04. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 EPS. Research analysts predict that Arrow Electronics, Inc. will post 10.56 EPS for the current year.

Institutional Investors Weigh In On Arrow Electronics

Several large investors have recently bought and sold shares of the company. QRG Capital Management Inc. increased its position in shares of Arrow Electronics by 10.4% in the 4th quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock valued at $748,000 after buying an additional 575 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Arrow Electronics in the fourth quarter worth about $1,012,000. AustralianSuper Pty Ltd raised its position in shares of Arrow Electronics by 172.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 92,990 shares of the technology company’s stock worth $11,368,000 after purchasing an additional 58,866 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Arrow Electronics during the 4th quarter valued at about $1,259,000. Finally, Mackenzie Financial Corp grew its position in shares of Arrow Electronics by 182.4% in the 4th quarter. Mackenzie Financial Corp now owns 40,472 shares of the technology company’s stock valued at $4,948,000 after purchasing an additional 26,142 shares during the period. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ARW. The Goldman Sachs Group raised their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial lowered their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research 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.