Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $103.33 and last traded at $103.62, with a volume of 53889 shares changing hands. The stock had previously closed at $104.62.
Analyst Ratings Changes
Several equities analysts recently weighed in on ARW shares. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Wells Fargo & Company cut 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 report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Arrow Electronics has an average rating of "Hold" and an average price target of $121.25.
Check Out Our Latest Report on Arrow Electronics
Arrow Electronics Price Performance
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 stock has a market cap of $5.46 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The business's 50-day simple moving average is $111.30 and its two-hundred day simple moving average is $120.02.
Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS 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%. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current year.
Insider Activity
In related 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 value of $39,574.83. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William F. Austen bought 1,900 shares of the 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 completion of the purchase, the director now directly owns 7,858 shares of the company's stock, valued at $818,174.96. This represents a 31.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Arrow Electronics
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Arrow Electronics by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,930,459 shares of the technology company's stock valued at $331,493,000 after purchasing an additional 91,310 shares in the last quarter. Boston Partners raised its stake in shares of Arrow Electronics by 14.8% during the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock worth $280,138,000 after acquiring an additional 318,329 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after acquiring an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. raised its stake in shares of Arrow Electronics by 1.1% during the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company's stock worth $215,477,000 after acquiring an additional 20,484 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Arrow Electronics by 0.3% during the third quarter. State Street Corp now owns 1,689,695 shares of the technology company's stock worth $224,442,000 after acquiring an additional 4,811 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
About Arrow Electronics
(
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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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