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

Hi Line Capital Management LLC trimmed its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,578 shares of the technology company’s stock after selling 1,606 shares during the period. Hi Line Capital Management LLC’s holdings in Arrow Electronics were worth $631,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ARW. True Wealth Design LLC purchased a new position in shares of Arrow Electronics during the 3rd quarter valued at about $31,000. Brooklyn Investment Group purchased a new position in Arrow Electronics in the 3rd quarter worth approximately $40,000. Principal Securities Inc. increased its stake in Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares during the period. Capital Performance Advisors LLP purchased a new position in Arrow Electronics in the 3rd quarter worth approximately $73,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics in the 3rd quarter worth approximately $78,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arrow Electronics

In other news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Arrow Electronics Price Performance

Shares of ARW stock opened at $111.52 on Monday. The firm has a market cap of $5.82 billion, a P/E ratio of 15.32, a P/E/G ratio of 0.53 and a beta of 1.26. Arrow Electronics, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The business’s 50 day moving average price is $113.71 and its 200-day moving average price is $122.38. 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 released 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 return on equity of 9.69% and a net margin of 1.40%. On average, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James decreased their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock 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 report on Friday, February 7th. Finally, Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.25.

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.