Corebridge Financial Inc. Sells 3,102 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Corebridge Financial Inc. reduced its stake in Arrow Electronics, Inc. (NYSE:ARW) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,507 shares of the technology company’s stock after selling 3,102 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Arrow Electronics worth $6,731,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in shares of Arrow Electronics in the 4th quarter valued at about $409,000. KLP Kapitalforvaltning AS acquired a new stake in Arrow Electronics in the 4th quarter valued at approximately $1,550,000. AXQ Capital LP lifted its stake in Arrow Electronics by 209.3% in the 4th quarter. AXQ Capital LP now owns 8,810 shares of the technology company’s stock valued at $997,000 after acquiring an additional 5,962 shares in the last quarter. Sei Investments Co. boosted its position in Arrow Electronics by 6.3% during the 4th quarter. Sei Investments Co. now owns 770,975 shares of the technology company’s stock worth $87,214,000 after acquiring an additional 45,593 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Arrow Electronics by 13.0% during the 4th quarter. American Century Companies Inc. now owns 100,725 shares of the technology company’s stock worth $11,394,000 after acquiring an additional 11,623 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William F. Austen bought 1,900 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Stock Performance

Shares of ARW opened at $103.55 on Friday. The company has a market cap of $5.40 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The firm has a 50-day moving average of $109.95 and a 200-day moving average of $118.39. Arrow Electronics, Inc. has a one year low of $101.78 and a one 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.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share 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%. As a group, equities analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ARW. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price target 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 assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.25.

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.