Federated Hermes Inc. Has $513,000 Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Federated Hermes Inc. lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,940 shares of the technology company’s stock after selling 427 shares during the period. Federated Hermes Inc.’s holdings in Arrow Electronics were worth $513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in shares of Arrow Electronics by 111.7% in the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Arrow Electronics in the first quarter worth $120,000. Lindbrook Capital LLC grew its stake in shares of Arrow Electronics by 300.5% in the first quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company’s stock worth $161,000 after acquiring an additional 1,163 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Arrow Electronics in the first quarter worth $203,000. Finally, Fulton Bank N.A. grew its stake in shares of Arrow Electronics by 6.4% in the first quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company’s stock worth $210,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Up 1.9%

Shares of NYSE ARW opened at $120.82 on Friday. The stock has a market cap of $6.22 billion, a PE ratio of 13.67, a PEG ratio of 0.56 and a beta of 1.10. The business has a fifty day moving average of $125.98 and a two-hundred day moving average of $115.31. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.39.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.40. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $2.78 earnings per share. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARW shares. Bank of America raised their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and an average target price of $115.75.

Insiders Place Their Bets

In related news, Director Gail Hamilton sold 1,458 shares of Arrow Electronics stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the transaction, the director directly owned 101 shares of the company’s stock, valued at $12,361.39. The trade was a 93.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the transaction, the senior vice president directly owned 17,057 shares of the company’s stock, valued at $2,125,984.48. This represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,070 shares of company stock valued at $1,116,062. 1.00% of the stock is owned by corporate 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.