Cullen Capital Management LLC Reduces Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Cullen Capital Management LLC reduced its holdings in Arrow Electronics, Inc. (NYSE:ARWFree Report) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,794 shares of the technology company’s stock after selling 4,554 shares during the period. Cullen Capital Management LLC’s holdings in Arrow Electronics were worth $2,909,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Arrow Electronics during the fourth quarter worth $56,000. GAMMA Investing LLC purchased a new stake in Arrow Electronics during the fourth quarter worth $58,000. Johnson Financial Group Inc. boosted its holdings in Arrow Electronics by 17.1% during the fourth quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock worth $115,000 after buying an additional 137 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Arrow Electronics during the fourth quarter worth $204,000. Finally, Versor Investments LP purchased a new stake in Arrow Electronics during the fourth quarter worth $223,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Andrew Charles Kerin sold 1,469 shares of the 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 completion of the sale, the director now directly owns 1,520 shares in the company, valued at $198,679.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Andrew Charles Kerin sold 1,469 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $130.71, for a total transaction of $192,012.99. Following the completion of the sale, the director now directly owns 1,520 shares in the company, valued at $198,679.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gail Hamilton sold 2,987 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The disclosure for this sale can be found here. Insiders sold 5,976 shares of company stock worth $788,183 over the last three months. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th.

Check Out Our Latest Analysis on Arrow Electronics

Arrow Electronics Stock Performance

NYSE:ARW opened at $132.83 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49. The company has a fifty day moving average of $128.13 and a two-hundred day moving average of $121.91. The stock has a market capitalization of $7.07 billion, a PE ratio of 10.44 and a beta of 1.30. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $147.42.

Arrow Electronics (NYSE:ARWGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.04. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 earnings per share. As a group, research analysts forecast that Arrow Electronics, Inc. will post 10.37 earnings per share for the current fiscal year.

Arrow Electronics Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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