Callan Capital LLC Lowers Position in Arrow Electronics, Inc. (NYSE:ARW)

Callan Capital LLC cut its stake in Arrow Electronics, Inc. (NYSE:ARW) by 27.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,296 shares of the technology company’s stock after selling 873 shares during the quarter. Callan Capital LLC’s holdings in Arrow Electronics were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ARW. Creative Planning lifted its holdings in Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after buying an additional 123 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Arrow Electronics by 60.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,313 shares of the technology company’s stock worth $971,000 after buying an additional 2,748 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Arrow Electronics by 9.2% in the third quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock worth $240,000 after buying an additional 153 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Arrow Electronics in the third quarter worth about $317,000. Finally, International Assets Investment Management LLC purchased a new stake in Arrow Electronics in the third quarter worth about $54,170,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Arrow Electronics Price Performance

Shares of ARW opened at $111.52 on Friday. The company has a market capitalization of $5.82 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.53 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $113.71 and a 200 day moving average of $122.38. Arrow Electronics, Inc. has a twelve month low of $105.00 and a twelve month high of $137.80.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the sale, the chief accounting officer now owns 2,086 shares of the company’s stock, valued at $226,810.78. This trade represents a 10.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by 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.