Envestnet Asset Management Inc. Buys 4,044 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Envestnet Asset Management Inc. lifted its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,752 shares of the technology company’s stock after purchasing an additional 4,044 shares during the period. Envestnet Asset Management Inc. owned 0.29% of Arrow Electronics worth $17,166,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new stake in Arrow Electronics during the fourth quarter worth $25,000. Brown Brothers Harriman & Co. bought a new stake in shares of Arrow Electronics in the 4th quarter valued at about $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at approximately $47,000. Principal Securities Inc. lifted its holdings in Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after purchasing an additional 126 shares during the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Arrow Electronics during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.5 %

NYSE ARW opened at $100.53 on Wednesday. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The business’s fifty day moving average is $104.78 and its 200 day moving average is $115.33. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ARW shares. Wells Fargo & Company decreased their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.25.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total value of $25,769.01. Following the sale, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. This represents a 10.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William F. Austen purchased 1,900 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $104.12 per share, with a total value of $197,828.00. Following the acquisition, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. The trade was a 31.89 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company 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.