Desjardins Global Asset Management Inc. Sells 14,803 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Desjardins Global Asset Management Inc. trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 92.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,237 shares of the technology company’s stock after selling 14,803 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Arrow Electronics were worth $151,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mackenzie Financial Corp increased its position in Arrow Electronics by 182.4% in the fourth quarter. Mackenzie Financial Corp now owns 40,472 shares of the technology company’s stock worth $4,948,000 after purchasing an additional 26,142 shares during the period. Strs Ohio increased its position in Arrow Electronics by 0.6% in the fourth quarter. Strs Ohio now owns 18,681 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 120 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Arrow Electronics in the fourth quarter worth about $1,259,000. Louisiana State Employees Retirement System acquired a new stake in Arrow Electronics in the fourth quarter worth about $1,858,000. Finally, Sapient Capital LLC acquired a new stake in Arrow Electronics in the fourth quarter worth about $509,000. 99.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The disclosure for this sale can be found here. In the last three months, insiders sold 4,134 shares of company stock valued at $488,795. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $122.04 on Friday. The firm has a market capitalization of $6.59 billion, a P/E ratio of 7.73 and a beta of 1.41. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $147.42. The business has a 50-day moving average of $121.06 and a 200-day moving average of $119.10. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same period in the previous year, the company earned $5.69 EPS. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Arrow Electronics, Inc. will post 11.53 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their target price on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research report on Friday, February 9th.

Arrow Electronics Profile

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.