WINTON GROUP Ltd Acquires New Position in Arrow Electronics, Inc. (NYSE:ARW)

WINTON GROUP Ltd acquired a new stake in Arrow Electronics, Inc. (NYSE:ARWGet Rating) in the second quarter, Holdings Channel reports. The firm acquired 2,288 shares of the technology company’s stock, valued at approximately $256,000.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Arrow Electronics by 830.3% in the second quarter. First Horizon Advisors Inc. now owns 307 shares of the technology company’s stock worth $34,000 after acquiring an additional 274 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics in the first quarter worth approximately $52,000. CWM LLC lifted its stake in Arrow Electronics by 103.2% in the second quarter. CWM LLC now owns 640 shares of the technology company’s stock worth $72,000 after acquiring an additional 325 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Arrow Electronics by 1,000.0% in the second quarter. EverSource Wealth Advisors LLC now owns 737 shares of the technology company’s stock worth $83,000 after acquiring an additional 670 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Arrow Electronics by 55.6% in the first quarter. Covestor Ltd now owns 879 shares of the technology company’s stock worth $104,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Transactions at Arrow Electronics

In other news, SVP Vincent P. Melvin sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $112.03, for a total transaction of $672,180.00. Following the transaction, the senior vice president now directly owns 19,381 shares of the company’s stock, valued at approximately $2,171,253.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Arrow Electronics Stock Performance

Shares of ARW opened at $108.07 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.50. The stock has a market capitalization of $6.65 billion, a P/E ratio of 5.05, a P/E/G ratio of 1.18 and a beta of 1.38. The company’s fifty day moving average is $99.33 and its two-hundred day moving average is $109.60. Arrow Electronics, Inc. has a 1 year low of $89.38 and a 1 year high of $137.95.

Arrow Electronics (NYSE:ARWGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The technology company reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $5.39 by $0.06. Arrow Electronics had a net margin of 3.93% and a return on equity of 27.82%. The business had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company posted $4.04 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 22.21 earnings per share for the current year.

Arrow Electronics announced that its board has approved a stock repurchase program on Thursday, September 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

ARW has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Arrow Electronics from $130.00 to $105.00 and set a “hold” rating for the company in a research report on Monday, October 10th. Wells Fargo & Company downgraded shares of Arrow Electronics from an “equal weight” rating to an “underweight” rating in a research report on Friday, September 16th. Finally, StockNews.com started coverage on shares of Arrow Electronics in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.00.

Arrow Electronics Company Profile

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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.

See Also

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

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