Peapack Gladstone Financial Corp Lowers Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Peapack Gladstone Financial Corp lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,039 shares of the technology company’s stock after selling 625 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Arrow Electronics were worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new position in Arrow Electronics in the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Arrow Electronics in the fourth quarter valued at about $31,000. New Age Alpha Advisors LLC acquired a new position in shares of Arrow Electronics during the fourth quarter worth about $47,000. Principal Securities Inc. increased its stake in shares of Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after acquiring an additional 126 shares during the period. Finally, CoreFirst Bank & Trust purchased a new position in Arrow Electronics during the fourth quarter worth about $55,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, Director William F. Austen bought 1,900 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares of the company’s stock, valued at $818,174.96. The trade was a 31.89 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the sale, the chief accounting officer now directly owns 1,549 shares in the company, valued at $173,658.39. This trade represents a 18.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ARW has been the topic of a number of analyst reports. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Trading Down 4.1 %

Shares of Arrow Electronics stock opened at $92.21 on Monday. The company has a 50-day moving average of $108.08 and a two-hundred day moving average of $117.36. Arrow Electronics, Inc. has a 12-month low of $87.15 and a 12-month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.78 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data 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, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

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.