Fulton Bank N.A. Buys Shares of 2,575 Arrow Electronics, Inc. (NYSE:ARW)

Fulton Bank N.A. acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,575 shares of the technology company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics during the first quarter worth about $52,000. Covestor Ltd grew its holdings in shares of Arrow Electronics by 55.6% during the first quarter. Covestor Ltd now owns 879 shares of the technology company’s stock worth $104,000 after purchasing an additional 314 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Arrow Electronics by 137.2% during the third quarter. Exchange Traded Concepts LLC now owns 930 shares of the technology company’s stock worth $86,000 after purchasing an additional 538 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Arrow Electronics by 30.9% during the third quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock worth $88,000 after purchasing an additional 228 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new position in shares of Arrow Electronics during the second quarter worth about $119,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $116.60 on Friday. The business has a 50 day moving average of $119.30 and a 200 day moving average of $108.25. Arrow Electronics, Inc. has a 52 week low of $89.38 and a 52 week high of $134.56. The company has a market cap of $6.80 billion, a PE ratio of 5.35, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.57.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The technology company reported $5.69 EPS for the quarter, topping the consensus estimate of $5.68 by $0.01. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.31 billion. Arrow Electronics had a net margin of 3.84% and a return on equity of 26.96%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.37 EPS. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 15.8 earnings per share for the current year.

Insider Buying and Selling at Arrow Electronics

In other news, Chairman Michael J. Long sold 17,720 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $118.00, for a total value of $2,090,960.00. Following the completion of the transaction, the chairman now owns 185,472 shares of the company’s stock, valued at approximately $21,885,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 sale, the chairman now owns 209,172 shares in the company, valued at $25,161,299.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael J. Long sold 17,720 shares of Arrow Electronics stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $118.00, for a total transaction of $2,090,960.00. Following the transaction, the chairman now owns 185,472 shares of the company’s stock, valued at $21,885,696. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,010 shares of company stock valued at $4,612,191. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARW. Wells Fargo & Company upped their target price on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. The Goldman Sachs Group upped their target price on Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. StockNews.com lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. Truist Financial upped their target price on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. Finally, Raymond James upped their target price on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $125.33.

Arrow Electronics 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.