Hi Line Capital Management LLC Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Hi Line Capital Management LLC lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 22.4% in the fourth quarter, Holdings Channel reports. The fund owned 5,578 shares of the technology company’s stock after selling 1,606 shares during the quarter. Hi Line Capital Management LLC’s holdings in Arrow Electronics were worth $631,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Arrow Electronics Trading Down 0.6 %

Shares of ARW stock opened at $111.52 on Monday. Arrow Electronics, Inc. has a 1 year low of $105.00 and a 1 year high of $137.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $113.71 and its two-hundred day simple moving average is $122.38. The company has a market cap of $5.82 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 0.53 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. Research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

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.