Duality Advisers LP Takes $4.16 Million Position in Arrow Electronics, Inc. (NYSE:ARW)

Duality Advisers LP acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 34,006 shares of the technology company’s stock, valued at approximately $4,157,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARW. Moneta Group Investment Advisors LLC acquired a new position in Arrow Electronics during the 4th quarter worth $230,362,000. AQR Capital Management LLC lifted its holdings in Arrow Electronics by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,957,225 shares of the technology company’s stock worth $245,123,000 after purchasing an additional 43,790 shares during the period. Greenhaven Associates Inc. grew its position in Arrow Electronics by 3.9% in the 4th quarter. Greenhaven Associates Inc. now owns 1,826,528 shares of the technology company’s stock valued at $223,293,000 after buying an additional 69,400 shares in the last quarter. Millennium Management LLC increased its stake in Arrow Electronics by 25.9% during the 4th quarter. Millennium Management LLC now owns 1,255,591 shares of the technology company’s stock valued at $131,297,000 after buying an additional 258,224 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Arrow Electronics by 42.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock valued at $145,244,000 after buying an additional 349,561 shares during the period. 99.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research note on Friday, February 9th.

Arrow Electronics Price Performance

Shares of ARW stock traded down $0.33 during mid-day trading on Friday, hitting $121.71. 305,846 shares of the stock traded hands, compared to its average volume of 418,411. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $147.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39. The company’s 50-day simple moving average is $121.27 and its 200-day simple moving average is $119.02. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 7.71 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter last year, the business posted $5.69 earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 11.53 earnings per share for the current year.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now owns 15,271 shares in the company, valued at approximately $1,847,791. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares in the company, valued at approximately $162,818.58. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock valued at $488,795 in the last quarter. Insiders own 1.00% of the company’s stock.

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.