Nordea Investment Management AB Acquires 367 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Nordea Investment Management AB grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 8.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,925 shares of the technology company’s stock after buying an additional 367 shares during the period. Nordea Investment Management AB’s holdings in Arrow Electronics were worth $513,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARW. Lindbrook Capital LLC raised its position 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 period. Brown Brothers Harriman & Co. acquired a new stake in shares of Arrow Electronics in the 1st quarter worth about $52,000. EverSource Wealth Advisors LLC lifted its position in 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 in the last quarter. Covestor Ltd increased its holdings in Arrow Electronics by 55.6% during the 1st 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. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Arrow Electronics by 43.6% in the third quarter. Rockefeller Capital Management L.P. now owns 1,377 shares of the technology company’s stock worth $125,000 after purchasing an additional 418 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Arrow Electronics Price Performance

ARW opened at $119.14 on Monday. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 1.90 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.62 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $117.36 and a 200-day moving average price of $113.95. Arrow Electronics, Inc. has a twelve month low of $89.38 and a twelve month high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its earnings results 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 net margin of 3.63% and a return on equity of 24.92%. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.61 billion. During the same quarter in the previous year, the firm posted $5.43 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts expect that Arrow Electronics, Inc. will post 15.8 EPS for the current year.

Insider Transactions at Arrow Electronics

In other news, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $118.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Arrow Electronics news, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 185,472 shares in the company, valued at $21,885,696. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael J. Long sold 884 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $120.00, for a total transaction of $106,080.00. Following the sale, the chairman now owns 208,288 shares of the company’s stock, valued at $24,994,560. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,010 shares of company stock valued at $4,612,191. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ARW. Wells Fargo & Company upped their price target on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, February 3rd. The Goldman Sachs Group boosted their price target on shares of Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Bank of America dropped their target price on shares of Arrow Electronics from $140.00 to $135.00 in a research report on Monday, May 8th. Citigroup upped their target price on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Finally, Truist Financial lifted their price target on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $126.71.

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.