AIA Group Ltd Invests $376,000 in Arrow Electronics, Inc. (NYSE:ARW)

AIA Group Ltd bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,322 shares of the technology company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its stake in Arrow Electronics by 371.1% in the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company's stock valued at $57,768,000 after purchasing an additional 342,590 shares in the last quarter. Boston Partners raised its stake in shares of Arrow Electronics by 14.8% during the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock worth $280,138,000 after buying an additional 318,329 shares during the last quarter. Lind Value II ApS grew its stake in Arrow Electronics by 36.3% in 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. grew its position in shares of Arrow Electronics by 115.0% in the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock valued at $41,948,000 after purchasing an additional 168,904 shares during the last quarter. Finally, Norges Bank purchased a new stake in Arrow Electronics in the 4th quarter valued at approximately $11,741,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Trading Down 4.1 %

Shares of ARW stock traded down $3.90 during trading hours on Friday, hitting $92.21. 827,405 shares of the company were exchanged, compared to its average volume of 454,000. Arrow Electronics, Inc. has a 1 year low of $89.45 and a 1 year high of $137.80. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $108.08 and a 200 day moving average of $117.53. The firm has a market cap of $4.78 billion, a PE ratio of 12.67, a PEG ratio of 0.52 and a beta of 1.18.

Remove Ads

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating 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%. Analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William F. Austen bought 1,900 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares of the company's stock, valued at $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Yun Sung Cho sold 237 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ARW shares. Wells Fargo & Company reduced their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research report on Friday, February 7th. Bank of America downgraded shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a report 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 assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.