May Hill Capital LLC Buys New Stake in Arrow Electronics, Inc. (NYSE:ARW)

May Hill Capital LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,537 shares of the technology company's stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Arrow Electronics by 1,072.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock valued at $5,564,000 after buying an additional 37,746 shares during the period. Cerity Partners LLC lifted its holdings in Arrow Electronics by 140.4% in the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock valued at $1,598,000 after acquiring an additional 7,028 shares during the period. Lind Value II ApS boosted its position in Arrow Electronics by 36.3% in the fourth 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 during the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 168,904 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Arrow Electronics by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 243,750 shares of the technology company's stock valued at $32,377,000 after purchasing an additional 30,380 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Remove Ads

Arrow Electronics Stock Performance

Arrow Electronics stock traded down $3.90 during midday trading on Friday, hitting $92.21. The stock had a trading volume of 827,405 shares, compared to its average volume of 454,767. Arrow Electronics, Inc. has a 52-week low of $89.45 and a 52-week high of $137.80. The company has a market capitalization of $4.78 billion, a PE ratio of 12.67, a P/E/G ratio of 0.52 and a beta of 1.18. The firm's fifty day moving average is $108.08 and its two-hundred day moving average is $117.45. 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 (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) 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%. On average, research analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Wall Street Analysts Forecast Growth

ARW has been the subject of several recent research reports. 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 price objective 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $121.25.

Insider Activity

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

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.