Cetera Investment Advisers Boosts Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Cetera Investment Advisers raised its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,314 shares of the technology company’s stock after purchasing an additional 997 shares during the quarter. Cetera Investment Advisers’ holdings in Arrow Electronics were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. boosted its holdings in Arrow Electronics by 18.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,438 shares of the technology company’s stock valued at $357,000 after purchasing an additional 539 shares during the last quarter. ACR Alpine Capital Research LLC boosted its holdings in Arrow Electronics by 399.5% in the first quarter. ACR Alpine Capital Research LLC now owns 86,541 shares of the technology company’s stock valued at $8,986,000 after purchasing an additional 69,214 shares during the last quarter. Oak Thistle LLC purchased a new stake in Arrow Electronics in the first quarter valued at $354,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Arrow Electronics by 1.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,847 shares of the technology company’s stock worth $4,968,000 after acquiring an additional 740 shares during the period. Finally, Lindbrook Capital LLC raised its position in shares of Arrow Electronics by 300.5% in the first quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company’s stock worth $161,000 after acquiring an additional 1,163 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Arrow Electronics news, CEO Sean J. Kerins acquired 8,630 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $114.91 per share, with a total value of $991,673.30. Following the purchase, the chief executive officer owned 122,408 shares in the company, valued at approximately $14,065,903.28. The trade was a 7.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were 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 of the company’s stock, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Arrow Electronics Stock Up 2.8%

Shares of NYSE ARW opened at $123.33 on Wednesday. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The stock has a market cap of $6.35 billion, a PE ratio of 13.95, a P/E/G ratio of 0.57 and a beta of 1.10. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $126.08 and a 200 day moving average of $115.32.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.40. Arrow Electronics had a net margin of 1.64% and a return on equity of 8.37%. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the company earned $2.78 EPS. Arrow Electronics’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARW shares. Wall Street Zen upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Bank of America upped their price objective 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Arrow Electronics has an average rating of “Hold” and an average target price of $115.75.

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.