Arrow Electronics (NYSE:ARW) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Arrow Electronics (NYSE:ARW – Get Rating) from a buy rating to a hold rating in a report issued on Tuesday.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company lifted their price target on Arrow Electronics from $87.00 to $100.00 and gave the company an underweight rating in a research note on Friday, February 3rd. Citigroup boosted their price objective on Arrow Electronics from $115.00 to $140.00 and gave the company a neutral rating in a research note on Friday, February 3rd. The Goldman Sachs Group upped their price target on Arrow Electronics from $111.00 to $126.00 and gave the stock a neutral rating in a research note on Monday, February 6th. Truist Financial boosted their price objective on Arrow Electronics from $116.00 to $131.00 and gave the stock a hold rating in a report on Friday, February 3rd. Finally, Raymond James upped their target price on Arrow Electronics from $125.00 to $150.00 and gave the company an outperform rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $125.33.

Arrow Electronics Trading Up 1.8 %

NYSE ARW opened at $117.10 on Tuesday. The firm has a market cap of $6.83 billion, a P/E ratio of 5.38, a P/E/G ratio of 1.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.48 and a quick ratio of 1.05. The stock’s 50-day moving average is $118.77 and its 200-day moving average is $108.05. Arrow Electronics has a one year low of $89.38 and a one year high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The technology company reported $5.69 earnings per share for the quarter, beating analysts’ consensus estimates of $5.68 by $0.01. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period last year, the company earned $5.37 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Arrow Electronics will post 15.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Michael J. Long sold 884 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $120.00, for a total transaction of $106,080.00. Following the completion of the sale, the chairman now owns 208,288 shares of the company’s stock, valued at approximately $24,994,560. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arrow Electronics news, Chairman Michael J. Long sold 3,712 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $120.29, for a total value of $446,516.48. Following the transaction, the chairman now directly owns 209,172 shares in the company, valued at approximately $25,161,299.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael J. Long sold 884 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $120.00, for a total transaction of $106,080.00. Following the transaction, the chairman now owns 208,288 shares in the company, valued at $24,994,560. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,902 shares of company stock valued at $1,765,613. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its holdings in shares of Arrow Electronics by 31.9% during the fourth quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock worth $41,000 after purchasing an additional 94 shares during the last quarter. Huntington National Bank raised its stake in Arrow Electronics by 88.5% during the fourth quarter. Huntington National Bank now owns 411 shares of the technology company’s stock worth $43,000 after purchasing an additional 193 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics during the first quarter worth about $52,000. Exchange Traded Concepts LLC raised its stake in shares of Arrow Electronics by 137.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 930 shares of the technology company’s stock valued at $86,000 after acquiring an additional 538 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Arrow Electronics by 30.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock valued at $88,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Arrow Electronics Company Profile

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.