Arrow Electronics (NYSE:ARW) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. cut its holdings in shares of Arrow Electronics (NYSE:ARW) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,830 shares of the technology company’s stock after selling 55,202 shares during the quarter. Clark Capital Management Group Inc. owned about 0.17% of Arrow Electronics worth $12,289,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. LPL Financial LLC acquired a new position in shares of Arrow Electronics during the fourth quarter worth approximately $236,000. Flinton Capital Management LLC raised its stake in shares of Arrow Electronics by 18.5% in the fourth quarter. Flinton Capital Management LLC now owns 6,960 shares of the technology company’s stock valued at $560,000 after purchasing an additional 1,088 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Arrow Electronics by 18.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,570 shares of the technology company’s stock valued at $769,000 after purchasing an additional 1,496 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Arrow Electronics by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 151,698 shares of the technology company’s stock valued at $12,198,000 after purchasing an additional 2,710 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Arrow Electronics by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 166,819 shares of the technology company’s stock valued at $13,414,000 after purchasing an additional 7,563 shares in the last quarter. Institutional investors own 93.65% of the company’s stock.

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NYSE:ARW traded down $3.32 during trading hours on Friday, reaching $72.79. The company had a trading volume of 478,599 shares, compared to its average volume of 515,733. Arrow Electronics has a one year low of $69.67 and a one year high of $87.26. The stock has a market capitalization of $6,675.58, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.56 and a quick ratio of 1.15.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.21. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. research analysts expect that Arrow Electronics will post 8.47 EPS for the current fiscal year.

A number of brokerages recently commented on ARW. ValuEngine lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, March 12th. Pivotal Research began coverage on Arrow Electronics in a research note on Tuesday, February 13th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Raymond James Financial upgraded Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 target price for the company in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.80.

In other news, insider Mary Catherine Morris sold 3,545 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $82.43, for a total transaction of $292,214.35. Following the sale, the insider now owns 20,742 shares in the company, valued at $1,709,763.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent P. Melvin sold 3,125 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $82.64, for a total value of $258,250.00. Following the sale, the insider now owns 18,371 shares in the company, valued at approximately $1,518,179.44. The disclosure for this sale can be found here. Insiders sold 59,113 shares of company stock worth $4,898,398 over the last quarter. Company insiders own 1.20% of the company’s stock.

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Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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