Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,261 shares of the technology company's stock after purchasing an additional 3,515 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Arrow Electronics worth $5,233,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cerity Partners LLC increased its holdings in shares of Arrow Electronics by 140.4% during the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock worth $1,598,000 after buying an additional 7,028 shares in the last quarter. FMR LLC grew its position in Arrow Electronics by 371.1% during the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company's stock worth $57,768,000 after acquiring an additional 342,590 shares during the last quarter. Verition Fund Management LLC grew its position in Arrow Electronics by 644.0% during the 3rd quarter. Verition Fund Management LLC now owns 18,727 shares of the technology company's stock worth $2,488,000 after acquiring an additional 16,210 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Arrow Electronics by 220.5% in 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 purchasing an additional 102,854 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in Arrow Electronics in the third quarter valued at about $31,000. Institutional investors own 99.34% of the company's stock.
Arrow Electronics Trading Down 4.1 %
Shares of ARW stock traded down $3.90 on Friday, hitting $92.21. The company had a trading volume of 827,405 shares, compared to its average volume of 454,000. Arrow Electronics, Inc. has a twelve month low of $89.53 and a twelve month high of $137.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The firm has a market cap of $4.78 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.52 and a beta of 1.18. The stock's 50-day moving average is $108.08 and its two-hundred day moving average is $117.53.
Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ARW has been the topic of several research reports. Bank of America cut Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price target 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 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 stock. Based on data from MarketBeat.com, Arrow Electronics currently has an average rating of "Hold" and an average target price of $121.25.
View Our Latest Report on ARW
Insider Buying and Selling
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 sale, the chief accounting officer now 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 filing with the SEC, which is available through this link. Also, Director William F. Austen acquired 1,900 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $104.12 per share, with a total value of $197,828.00. Following the purchase, the director now directly owns 7,858 shares in the company, 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 insiders.
About Arrow Electronics
(
Free Report)
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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