Choreo LLC purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,755 shares of the technology company's stock, valued at approximately $422,000.
Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock valued at $278,220,000 after buying an additional 876,396 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Arrow Electronics by 1,072.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock worth $5,564,000 after purchasing an additional 37,746 shares in the last quarter. Cerity Partners LLC lifted its holdings in Arrow Electronics by 140.4% during the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock worth $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Lind Value II ApS lifted its holdings in Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock worth $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock worth $41,948,000 after purchasing an additional 168,904 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Wells Fargo & Company dropped their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. Finally, Bank of America lowered Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $121.25.
Check Out Our Latest Stock Report on Arrow Electronics
Insider Activity
In other news, CAO Yun Sung Cho sold 237 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. This represents a 10.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.
Arrow Electronics Price Performance
NYSE ARW traded up $0.90 during trading on Friday, reaching $109.12. The company's stock had a trading volume of 431,226 shares, compared to its average volume of 481,912. The stock has a market capitalization of $5.69 billion, a PE ratio of 14.99 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.09. The firm has a fifty day moving average of $114.76 and a 200 day moving average of $122.88. Arrow Electronics, Inc. has a one year low of $105.00 and a one year high of $137.80.
Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating 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%. Analysts expect that Arrow Electronics, Inc. will post 12.81 EPS for the current fiscal year.
Arrow Electronics Profile
(
Free Report)
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.
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