M&T Bank Corp Increases Stake in Arrow Electronics, Inc. (NYSE:ARW)

M&T Bank Corp lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 16.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,069 shares of the technology company’s stock after purchasing an additional 574 shares during the quarter. M&T Bank Corp’s holdings in Arrow Electronics were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC raised its position in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $47,000. CoreFirst Bank & Trust purchased a new position in shares of Arrow Electronics in the 4th quarter valued at approximately $55,000. Finally, Exchange Traded Concepts LLC purchased a new position in Arrow Electronics during the 1st quarter worth approximately $120,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America raised their price target on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Monday, June 9th.

Insider Transactions at Arrow Electronics

In other news, Director Gail Hamilton sold 1,458 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $178,444.62. Following the sale, the director owned 101 shares of the company’s stock, valued at $12,361.39. This trade represents a 93.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the sale, the senior vice president directly owned 17,057 shares in the company, valued at $2,125,984.48. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,070 shares of company stock valued at $1,116,062 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Arrow Electronics Stock Performance

ARW opened at $130.58 on Thursday. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.77 billion, a PE ratio of 17.99, a P/E/G ratio of 0.65 and a beta of 1.10. The firm has a 50 day moving average of $124.30 and a two-hundred day moving average of $114.03.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. During the same period last year, the firm posted $2.41 EPS. Arrow Electronics’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

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.