GAMMA Investing LLC Takes Position in Arrow Electronics, Inc. (NYSE:ARW)

GAMMA Investing LLC bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 522 shares of the technology company’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Group LLC acquired a new stake in shares of Arrow Electronics during the third quarter worth approximately $25,000. Vinva Investment Management Ltd grew its position in Arrow Electronics by 4.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company’s stock worth $243,000 after acquiring an additional 85 shares during the last quarter. Riverwater Partners LLC increased its holdings in Arrow Electronics by 18.1% during the 4th quarter. Riverwater Partners LLC now owns 1,946 shares of the technology company’s stock valued at $238,000 after purchasing an additional 298 shares in the last quarter. Blue Trust Inc. boosted its stake in Arrow Electronics by 14.4% in the fourth quarter. Blue Trust Inc. now owns 1,987 shares of the technology company’s stock worth $249,000 after purchasing an additional 250 shares in the last quarter. Finally, Paulson Wealth Management Inc. grew its holdings in shares of Arrow Electronics by 17.6% during the third quarter. Paulson Wealth Management Inc. now owns 1,993 shares of the technology company’s stock worth $250,000 after purchasing an additional 298 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their price target on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

Arrow Electronics Price Performance

ARW opened at $124.77 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.00. The company’s 50 day simple moving average is $123.41 and its 200-day simple moving average is $119.48. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $147.42. The stock has a market capitalization of $6.74 billion, a P/E ratio of 7.90 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period last year, the firm earned $5.69 EPS. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the transaction, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at $162,818.58. The disclosure for this sale can be found here. In the last three months, insiders sold 4,134 shares of company stock valued at $488,795. 0.60% of the stock is currently owned by insiders.

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.