Principal Financial Group Inc. Decreases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Principal Financial Group Inc. lessened its stake in Arrow Electronics, Inc. (NYSE:ARW) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 120,552 shares of the technology company’s stock after selling 2,045 shares during the quarter. Principal Financial Group Inc.’s holdings in Arrow Electronics were worth $13,637,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares during the period. Greenhaven Associates Inc. raised its position in shares of Arrow Electronics by 1.1% during the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock worth $215,477,000 after acquiring an additional 20,484 shares in the last quarter. State Street Corp raised its position in shares of Arrow Electronics by 0.3% during the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after acquiring an additional 4,811 shares in the last quarter. Lind Value II ApS raised its position in shares of Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after acquiring an additional 172,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arrow Electronics by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock worth $64,281,000 after acquiring an additional 10,340 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARW shares. Truist Financial cut their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Finally, Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Arrow Electronics currently has a consensus rating of “Hold” and an average price target of $121.25.

Arrow Electronics Trading Down 0.2 %

ARW opened at $109.93 on Thursday. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. Arrow Electronics, Inc. has a 52 week low of $105.00 and a 52 week high of $137.80. The business’s 50 day moving average is $113.29 and its two-hundred day moving average is $122.07. 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 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, research analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Yun Sung Cho sold 353 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. The trade was a 18.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.