Sumitomo Mitsui Trust Holdings Inc. Sells 189,323 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 91.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,231 shares of the technology company’s stock after selling 189,323 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Arrow Electronics were worth $2,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARW. Legacy Financial Group LLC bought a new position in Arrow Electronics in the 3rd quarter worth approximately $25,000. IFP Advisors Inc boosted its stake in Arrow Electronics by 33.0% in the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC bought a new position in shares of Arrow Electronics during the 3rd quarter valued at approximately $202,000. Riverwater Partners LLC boosted its position in shares of Arrow Electronics by 18.1% during the 4th quarter. Riverwater Partners LLC now owns 1,946 shares of the technology company’s stock valued at $238,000 after acquiring an additional 298 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its position in shares of Arrow Electronics by 4.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company’s stock valued at $243,000 after acquiring an additional 85 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

NYSE:ARW opened at $127.58 on Thursday. The stock’s fifty day moving average is $121.78 and its 200 day moving average is $119.08. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The firm has a market capitalization of $6.89 billion, a PE ratio of 8.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the prior year, the firm posted $5.69 EPS. Arrow Electronics’s quarterly revenue was down 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 11.53 earnings per share for the current year.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares in the company, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the stock in a transaction 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 completion of the sale, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,134 shares of company stock worth $488,795. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered 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 Company 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.