Daiwa Securities Group Inc. reduces its stake in Arrow Electronics, Inc. (NYSE: ARW)

Daiwa Securities Group Inc. reduced its stake in Arrow Electronics, Inc. (NYSE: ARW – Get Rating) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund held 3,437 shares of the technology company after selling 263 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Arrow Electronics were worth $408,000 at the end of the most recent period.

Several other hedge funds have also recently increased or reduced their holdings in ARW. Riverview Trust Co bought a new stake in Arrow Electronics in the first quarter worth $25,000. Allworth Financial LP bought a new stake in Arrow Electronics in the first quarter for $26,000. Financial Management Professionals Inc. increased its stake in Arrow Electronics to 95.7% in the first quarter. Financial Management Professionals Inc. now owns 225 shares of the tech company valued at $27,000 after buying 110 more shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Arrow Electronics during the 4th quarter for a value of approximately $31,000. Finally, CWM LLC purchased a new stake in shares of Arrow Electronics during Q4 for a value of approximately $43,000. 93.38% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several research companies have recently published reports on ARW. StockNews.com downgraded shares of Arrow Electronics from a “strong buy” rating to a “buy” rating in a Monday, July 18 research rating. Truist Financial lowered its target price on shares of Arrow Electronics from $143.00 to $126.00 and placed a “hold” rating on the stock in a research note on Friday, April 8. Finally, Goldman Sachs Group lowered its price target on Arrow Electronics shares from $158.00 to $127.00 in a Friday, July 15 research note.

Arrow Electronics is trading down 0.7%

Arrow Electronics shares opened at $119.61 on Monday. The company has a market capitalization of $7.90 billion, a PE ratio of 6.72, a P/E/G ratio of 1.77 and a beta of 1.34. Arrow Electronics, Inc. has a 12-month low of $105.33 and a 12-month high of $137.95. The company’s 50-day moving average price is $115.75 and its 200-day moving average price is $119.75. The company has a current ratio of 1.49, a quick ratio of 1.06 and a debt ratio of 0.51.

Arrow Electronics (NYSE:ARW – Get Rating) last released its quarterly results on Thursday, May 5. The technology company reported earnings per share of $5.43 for the quarter, beating consensus analyst estimates of $4.53 by $0.90. The company posted revenue of $9.07 billion for the quarter, versus analyst estimates of $8.71 billion. Arrow Electronics had a net margin of 3.60% and a return on equity of 24.40%. Arrow Electronics quarterly revenue increased 8.2% compared to the same quarter last year. During the same period last year, the company posted EPS of $2.84. On average, sell-side analysts expect Arrow Electronics, Inc. to post EPS of 21.59 for the current fiscal year.

Insider Activity at Arrow Electronics

Separately, SVP David Alan West sold 2,125 shares of the company in a transaction dated Monday, May 9. The shares were sold at an average price of $124.47, for a total value of $264,498.75. As a result of the transaction, the senior vice president now directly owns 13,446 shares of the company, valued at approximately $1,673,623.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arrow Electronics news, SVP David Alan West sold 2,125 shares in a trade dated Monday, May 9. The shares were sold at an average price of $124.47, for a total value of $264,498.75. Following the completion of the sale, the senior vice president now owns 13,446 shares of the company, valued at approximately $1,673,623.62. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. In addition, SVP Carine Lamercie Jean-Claude sold 1,000 shares in a transaction dated Friday, May 13. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the sale, the senior vice president now owns 11,105 shares of the company, valued at approximately $1,382,572.50. The disclosure of this sale can be found here. In the past three months, insiders have sold 29,475 shares of the company valued at $3,648,254. 1.00% of the shares are held by insiders.

About Arrow Electronics

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Arrow Electronics, Inc provides products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, Middle East, Africa and Asia-Pacific. The Company operates in two segments, Global Components and Global Enterprise Computing Solutions.

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