Securian Asset Management Inc. Has $559,000 Stake in Arrow Electronics, Inc. (NYSE:ARW)

Securian Asset Management Inc. reduced its stake in Arrow Electronics, Inc. (NYSE:ARW) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,571 shares of the technology company’s stock after selling 143 shares during the period. Securian Asset Management Inc.’s holdings in Arrow Electronics were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in Arrow Electronics by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after buying an additional 409,810 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Arrow Electronics by 67.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock valued at $118,527,000 after acquiring an additional 380,383 shares in the last quarter. Ameriprise Financial Inc. grew its position in Arrow Electronics by 42.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after acquiring an additional 349,561 shares during the last quarter. Invesco Ltd. grew its position in Arrow Electronics by 37.8% during the 3rd quarter. Invesco Ltd. now owns 826,096 shares of the technology company’s stock worth $103,460,000 after acquiring an additional 226,769 shares during the last quarter. Finally, River Road Asset Management LLC acquired a new position in Arrow Electronics in the 4th quarter worth about $18,232,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

ARW stock opened at $133.64 on Thursday. The company has a market capitalization of $7.11 billion, a P/E ratio of 10.51 and a beta of 1.39. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $147.42. The business has a 50-day simple moving average of $126.24 and a two-hundred day simple moving average of $120.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49.

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

Insider Activity

In related news, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were 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 owns 1,389 shares in the company, valued at $162,818.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard John Marano sold 1,900 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now owns 12,108 shares in the company, valued at $1,410,097.68. The disclosure for this sale can be found here. Insiders sold a total of 8,590 shares of company stock worth $1,076,854 over the last quarter. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Truist Financial reduced their price target on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a report on Friday, February 9th. The Goldman Sachs Group lifted their price objective on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday.

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.