Edgestream Partners L.P. Takes $6.55 Million Position in Arrow Electronics, Inc. (NYSE:ARW)

Edgestream Partners L.P. purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 57,884 shares of the technology company's stock, valued at approximately $6,548,000. Edgestream Partners L.P. owned approximately 0.11% of Arrow Electronics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Arrow Electronics in the 4th quarter worth $5,137,000. Proficio Capital Partners LLC bought a new position in shares of Arrow Electronics during the 4th quarter valued at about $1,971,000. Seizert Capital Partners LLC raised its holdings in shares of Arrow Electronics by 36.4% in the 4th quarter. Seizert Capital Partners LLC now owns 46,851 shares of the technology company's stock worth $5,300,000 after purchasing an additional 12,505 shares in the last quarter. Atria Investments Inc lifted its stake in Arrow Electronics by 14.2% during the fourth quarter. Atria Investments Inc now owns 5,063 shares of the technology company's stock valued at $573,000 after purchasing an additional 630 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Arrow Electronics by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 20,669 shares of the technology company's stock worth $2,338,000 after buying an additional 192 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. Bank of America lowered Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Two investment 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $121.25.

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Insider Buying and Selling at Arrow Electronics

In other news, CAO Yun Sung Cho sold 353 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,549 shares in the company, valued at $173,658.39. The trade was a 18.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Arrow Electronics Stock Down 2.7 %

NYSE:ARW traded down $2.86 during trading hours on Tuesday, hitting $104.66. 449,874 shares of the stock traded hands, compared to its average volume of 507,080. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 0.52 and a beta of 1.26. The firm has a 50 day moving average price of $112.04 and a 200 day moving average price of $120.77. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Arrow Electronics, Inc. has a fifty-two week low of $103.40 and a fifty-two week 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, 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%. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Arrow Electronics Profile

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.