LPL Financial LLC Grows Position in Arrow Electronics, Inc. (NYSE:ARW)

LPL Financial LLC lifted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,386 shares of the technology company’s stock after buying an additional 2,475 shares during the period. LPL Financial LLC owned approximately 0.07% of Arrow Electronics worth $3,570,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ARW. Raymond James Financial Inc. purchased a new stake in shares of Arrow Electronics during the fourth quarter valued at $5,137,000. Mariner LLC boosted its position in shares of Arrow Electronics by 15.4% during the fourth quarter. Mariner LLC now owns 5,342 shares of the technology company’s stock valued at $604,000 after buying an additional 711 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Arrow Electronics during the fourth quarter valued at $365,000. Guggenheim Capital LLC boosted its position in shares of Arrow Electronics by 39.9% during the fourth quarter. Guggenheim Capital LLC now owns 3,376 shares of the technology company’s stock valued at $382,000 after buying an additional 963 shares during the last quarter. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Arrow Electronics during the fourth quarter valued at $239,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 1.7%

ARW stock opened at $123.77 on Friday. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The business’s 50-day moving average is $126.37 and its two-hundred day moving average is $115.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.39. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.60 and a beta of 1.10.

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

Insider Transactions at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the transaction, the senior vice president owned 17,057 shares of the company’s stock, valued at $2,125,984.48. This trade represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean J. Kerins acquired 8,630 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the purchase, the chief executive officer directly owned 122,408 shares of the company’s stock, valued at approximately $14,065,903.28. This trade represents a 7.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ARW shares. Wall Street Zen raised Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Bank of America increased their target price on Arrow Electronics from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.