Fifth Third Bancorp Sells 2,100 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Fifth Third Bancorp cut its stake in Arrow Electronics, Inc. (NYSE:ARW) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,210 shares of the technology company’s stock after selling 2,100 shares during the period. Fifth Third Bancorp’s holdings in Arrow Electronics were worth $2,202,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its stake in Arrow Electronics by 208.8% in the fourth quarter. FMR LLC now owns 1,343,090 shares of the technology company’s stock worth $151,930,000 after acquiring an additional 908,185 shares during the period. Bank of America Corp DE lifted its stake in Arrow Electronics by 163.7% in the fourth quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company’s stock worth $133,089,000 after acquiring an additional 730,408 shares during the period. Fiduciary Management Inc. WI lifted its stake in Arrow Electronics by 44.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company’s stock worth $175,214,000 after acquiring an additional 473,909 shares during the period. Boston Partners lifted its stake in Arrow Electronics by 14.8% in the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock worth $280,138,000 after acquiring an additional 318,329 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Arrow Electronics by 31,181.6% in the first quarter. GAMMA Investing LLC now owns 269,647 shares of the technology company’s stock worth $279,970,000 after acquiring an additional 268,785 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped 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.

Arrow Electronics Stock Performance

ARW stock opened at $121.91 on Friday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.52 and a beta of 1.09. The firm has a 50-day simple moving average of $113.94 and a two-hundred day simple moving average of $112.37. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.47 by $0.33. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. Arrow Electronics’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.41 EPS. On average, equities analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gail Hamilton sold 1,458 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $178,444.62. Following the completion of the transaction, the director now owns 101 shares in the company, valued at $12,361.39. The trade was a 93.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the transaction, the senior vice president now directly owns 17,057 shares of the company’s stock, valued at $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock worth $1,116,062 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Company 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.