Arrow Electronics, Inc. (NYSE:ARW) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in Arrow Electronics, Inc. (NYSE:ARW) by 35.8% during the fourth quarter, HoldingsChannel reports. The firm owned 14,339 shares of the technology company’s stock after purchasing an additional 3,783 shares during the quarter. Van ECK Associates Corp’s holdings in Arrow Electronics were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ARW. Assenagon Asset Management S.A. increased its holdings in shares of Arrow Electronics by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after purchasing an additional 409,810 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Arrow Electronics by 67.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock valued at $118,527,000 after purchasing an additional 380,383 shares during the period. Ameriprise Financial Inc. grew its holdings in Arrow Electronics by 42.9% during the third quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after acquiring an additional 349,561 shares during the period. Invesco Ltd. grew its holdings in Arrow Electronics by 37.8% during the third quarter. Invesco Ltd. now owns 826,096 shares of the technology company’s stock worth $103,460,000 after acquiring an additional 226,769 shares during the period. Finally, River Road Asset Management LLC acquired a new position in Arrow Electronics during the fourth quarter worth $18,232,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.4 %

Shares of ARW stock opened at $127.49 on Thursday. The business’s fifty day moving average price is $124.35 and its 200 day moving average price is $119.87. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42. The firm has a market capitalization of $6.79 billion, a PE ratio of 10.02 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.04. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.60 earnings per share. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the sale, the chief accounting officer now owns 1,389 shares in the company, valued at $162,818.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,134 shares of company stock valued at $488,795. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

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

Arrow Electronics 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.