Arrow Electronics, Inc. (NYSE:ARW) Position Reduced by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,154 shares of the technology company’s stock after selling 267 shares during the period. QRG Capital Management Inc.’s holdings in Arrow Electronics were worth $809,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ARW. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Arrow Electronics in the 3rd quarter valued at approximately $88,000. Wealth Enhancement Advisory Services LLC increased its stake in Arrow Electronics by 43.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,336 shares of the technology company’s stock valued at $1,107,000 after purchasing an additional 2,544 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the third quarter worth $78,000. US Bancorp DE lifted its position in shares of Arrow Electronics by 2.1% in the 3rd quarter. US Bancorp DE now owns 27,407 shares of the technology company’s stock worth $3,640,000 after buying an additional 558 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Arrow Electronics by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 29,576 shares of the technology company’s stock worth $3,915,000 after buying an additional 8,450 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Down 2.3 %

ARW stock opened at $105.63 on Tuesday. The stock has a market cap of $5.51 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The firm’s 50-day simple moving average is $113.01 and its 200 day simple moving average is $121.77. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Wall Street Analyst Weigh In

ARW has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $121.25.

Insider Buying and Selling at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $108.73, for a total value of $25,769.01. Following the completion of the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. This represents a 10.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

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.