PNC Financial Services Group Inc. Has $887,000 Stake in Arrow Electronics, Inc. (NYSE:ARW)

PNC Financial Services Group Inc. lessened its stake in Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,845 shares of the technology company’s stock after selling 178 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Arrow Electronics were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARW. True Wealth Design LLC bought a new stake in shares of Arrow Electronics during the third quarter worth $31,000. Brooklyn Investment Group bought a new stake in Arrow Electronics in the 3rd quarter valued at about $40,000. Principal Securities Inc. raised its holdings in Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after acquiring an additional 126 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Arrow Electronics by 24.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock valued at $64,000 after buying an additional 112 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Arrow Electronics by 26.5% in the fourth quarter. IFP Advisors Inc now owns 630 shares of the technology company’s stock worth $71,000 after acquiring an additional 132 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARW. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.25.

Insider Buying and Selling

In related news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at $173,658.39. This trade represents a 18.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William F. Austen purchased 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the transaction, the director now owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $105.62 on Tuesday. Arrow Electronics, Inc. has a 52 week low of $101.78 and a 52 week high of $137.80. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.52 and a beta of 1.26. The stock has a fifty day moving average of $111.17 and a 200 day moving average of $119.71. 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 posted its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share 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%. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

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.