Raymond James Financial Inc. Acquires New Position in Arrow Electronics, Inc. (NYSE:ARW)

Raymond James Financial Inc. bought a new stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 45,415 shares of the technology company's stock, valued at approximately $5,137,000. Raymond James Financial Inc. owned 0.09% of Arrow Electronics as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ARW. FMR LLC raised its holdings in shares of Arrow Electronics by 371.1% in the third quarter. FMR LLC now owns 434,905 shares of the technology company's stock valued at $57,768,000 after buying an additional 342,590 shares during the last quarter. Lind Value II ApS raised its stake 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 valued at $73,374,000 after acquiring an additional 172,669 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock valued at $41,948,000 after acquiring an additional 168,904 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Arrow Electronics by 220.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company's stock worth $19,859,000 after acquiring an additional 102,854 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Arrow Electronics by 3,768.6% in the 3rd quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company's stock valued at $11,063,000 after purchasing an additional 81,137 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

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Arrow Electronics Price Performance

ARW stock traded down $1.82 on Friday, reaching $103.55. 343,356 shares of the company's stock were exchanged, compared to its average volume of 450,336. The stock has a fifty day moving average of $109.95 and a 200-day moving average of $118.34. The firm has a market cap of $5.40 billion, a PE ratio of 14.22, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. Arrow Electronics, Inc. has a twelve month low of $101.78 and a twelve month high of $137.80.

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

Insider Buying and Selling at Arrow Electronics

In other news, CAO Yun Sung Cho sold 353 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the transaction, the chief accounting officer now directly owns 1,549 shares of the company's stock, valued at $173,658.39. This trade represents a 18.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Austen bought 1,900 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the purchase, the director now owns 7,858 shares in the company, valued at $818,174.96. This represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America downgraded Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Arrow Electronics has an average rating of "Hold" and an average target price of $121.25.

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.