Intech Investment Management LLC Boosts Position in Arrow Electronics, Inc. (NYSE:ARW)

Intech Investment Management LLC boosted its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,421 shares of the technology company’s stock after acquiring an additional 210 shares during the quarter. Intech Investment Management LLC’s holdings in Arrow Electronics were worth $776,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in Arrow Electronics by 31.9% during the fourth quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock valued at $41,000 after purchasing an additional 94 shares during the period. Huntington National Bank grew its holdings in Arrow Electronics by 88.5% during the fourth quarter. Huntington National Bank now owns 411 shares of the technology company’s stock valued at $43,000 after purchasing an additional 193 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Arrow Electronics during the first quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its holdings in Arrow Electronics by 30.9% during the third quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock valued at $88,000 after purchasing an additional 228 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in Arrow Electronics during the fourth quarter valued at about $101,000. 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 $123.22 on Monday. The stock has a 50 day moving average of $117.75 and a 200 day moving average of $114.66. Arrow Electronics, Inc. has a 12 month low of $89.38 and a 12 month high of $134.56. The firm has a market cap of $6.96 billion, a PE ratio of 5.85, a PEG ratio of 1.96 and a beta of 1.40. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $4.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.13. Arrow Electronics had a return on equity of 24.92% and a net margin of 3.63%. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same period in the prior year, the business posted $5.43 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts expect that Arrow Electronics, Inc. will post 15.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARW. Citigroup boosted their price target on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. The Goldman Sachs Group upped their price objective on Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Bank of America dropped their price objective on Arrow Electronics from $140.00 to $135.00 in a research note on Monday, May 8th. Wells Fargo & Company upped their price objective on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Finally, StockNews.com raised Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus target price of $126.71.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, Chairman Michael J. Long sold 884 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total transaction of $106,080.00. Following the sale, the chairman now directly owns 208,288 shares in the company, valued at $24,994,560. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Michael J. Long sold 884 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $120.00, for a total value of $106,080.00. Following the sale, the chairman now directly owns 208,288 shares in the company, valued at $24,994,560. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the chairman now owns 185,472 shares in the company, valued at $21,885,696. The disclosure for this sale can be found here. Insiders have sold a total of 39,010 shares of company stock worth $4,612,191 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.