Gotham Asset Management LLC Cuts Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Gotham Asset Management LLC lessened its stake in Arrow Electronics, Inc. (NYSE:ARW) by 58.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,435 shares of the technology company’s stock after selling 10,677 shares during the period. Gotham Asset Management LLC’s holdings in Arrow Electronics were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Meixler Investment Management Ltd. grew its stake in Arrow Electronics by 2.6% in the 4th quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company’s stock worth $387,000 after buying an additional 88 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Arrow Electronics by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company’s stock worth $539,000 after buying an additional 89 shares in the last quarter. Ironwood Investment Management LLC grew its stake in Arrow Electronics by 0.4% in the 4th quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company’s stock worth $2,550,000 after buying an additional 100 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Arrow Electronics by 24.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock worth $64,000 after buying an additional 112 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of 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 purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $121.88 on Friday. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The company has a fifty day moving average of $106.87 and a 200-day moving average of $112.06. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.47 by $0.33. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.41 earnings per share. Equities research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insider Activity

In related news, Director William F. Austen acquired 1,900 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares of the company’s stock, valued at $818,174.96. This trade represents a 31.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,763 shares of company stock valued at $824,095. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ARW shares. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.25.

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.