Raymond James & Associates Raises Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Raymond James & Associates raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 26.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,659 shares of the technology company’s stock after purchasing an additional 5,102 shares during the period. Raymond James & Associates’ holdings in Arrow Electronics were worth $3,015,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Moneta Group Investment Advisors LLC purchased a new position in Arrow Electronics in the 4th quarter valued at about $230,362,000. AQR Capital Management LLC lifted its position in shares of Arrow Electronics by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,957,225 shares of the technology company’s stock valued at $245,123,000 after acquiring an additional 43,790 shares in the last quarter. Greenhaven Associates Inc. boosted its stake in shares of Arrow Electronics by 3.9% in the fourth quarter. Greenhaven Associates Inc. now owns 1,826,528 shares of the technology company’s stock worth $223,293,000 after acquiring an additional 69,400 shares during the last quarter. Millennium Management LLC increased its position in shares of Arrow Electronics by 25.9% during the fourth quarter. Millennium Management LLC now owns 1,255,591 shares of the technology company’s stock worth $131,297,000 after purchasing an additional 258,224 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock valued at $145,244,000 after purchasing an additional 349,561 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Activity at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Richard John Marano sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the transaction, the insider now directly owns 12,108 shares in the company, valued at approximately $1,410,097.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the firm’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 sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,134 shares of company stock valued at $488,795. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of 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 Trading Down 2.7 %

ARW opened at $124.25 on Friday. 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 $120.09 and its two-hundred day simple moving average is $119.16. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 7.87 and a beta of 1.41. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter last year, the business posted $5.69 earnings per share. The firm’s revenue was down 15.8% compared to the same quarter last year. Analysts expect that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

About Arrow Electronics

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.