WINTON GROUP Ltd purchased a new position in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,288 shares of the technology company’s stock, valued at approximately $256,000.
Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in Arrow Electronics by 830.3% during the second quarter. First Horizon Advisors Inc. now owns 307 shares of the technology company’s stock valued at $34,000 after buying an additional 274 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics during the first quarter valued at approximately $52,000. CWM LLC increased its stake in shares of Arrow Electronics by 103.2% during the second quarter. CWM LLC now owns 640 shares of the technology company’s stock valued at $72,000 after purchasing an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Arrow Electronics by 1,000.0% during the second quarter. EverSource Wealth Advisors LLC now owns 737 shares of the technology company’s stock valued at $83,000 after purchasing an additional 670 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Arrow Electronics by 55.6% during the first quarter. Covestor Ltd now owns 879 shares of the technology company’s stock valued at $104,000 after acquiring an additional 314 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.
Wall Street Analyst Weigh In
ARW has been the subject of a number of research analyst reports. 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. Stifel Nicolaus reduced their price target on shares of Arrow Electronics from $130.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, October 10th. Finally, StockNews.com assumed coverage on shares of Arrow Electronics in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $127.00.
Insider Activity at Arrow Electronics
Arrow Electronics Price Performance
Shares of ARW opened at $108.07 on Monday. The company has a 50 day moving average price of $99.33 and a 200-day moving average price of $109.60. Arrow Electronics, Inc. has a fifty-two week low of $89.38 and a fifty-two week high of $137.95. The stock has a market capitalization of $6.65 billion, a PE ratio of 5.05, a PEG ratio of 1.18 and a beta of 1.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.50.
Arrow Electronics (NYSE:ARW – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported $5.45 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.06. Arrow Electronics had a net margin of 3.93% and a return on equity of 27.82%. The firm had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the company earned $4.04 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Equities analysts predict that Arrow Electronics, Inc. will post 22.21 earnings per share for the current fiscal year.
Arrow Electronics declared that its Board of Directors has initiated a share buyback plan on Thursday, September 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 9.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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.
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