Norges Bank Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

Norges Bank acquired a new stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 103,796 shares of the technology company's stock, valued at approximately $11,741,000. Norges Bank owned approximately 0.20% of Arrow Electronics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARW. Franklin Resources Inc. grew its holdings in shares of Arrow Electronics by 1,072.6% in the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock valued at $5,564,000 after acquiring an additional 37,746 shares in the last quarter. Lind Value II ApS boosted its holdings in shares of 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 buying an additional 172,669 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 buying an additional 168,904 shares in the last quarter. GAMMA Investing LLC increased its holdings in Arrow Electronics by 24.0% during the fourth quarter. GAMMA Investing LLC now owns 862 shares of the technology company's stock worth $98,000 after buying an additional 167 shares during the last quarter. Finally, Polaris Capital Management LLC lifted its stake in Arrow Electronics by 1.1% in the fourth quarter. Polaris Capital Management LLC now owns 261,203 shares of the technology company's stock valued at $29,547,000 after acquiring an additional 2,800 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Arrow Electronics news, Director William F. Austen purchased 1,900 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the purchase, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 in the company, valued at approximately $173,658.39. The trade was a 18.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company's stock.

Arrow Electronics Stock Performance

Shares of ARW traded up $1.03 during midday trading on Friday, reaching $97.71. 554,127 shares of the stock were exchanged, compared to its average volume of 468,653. The stock's 50 day simple moving average is $105.26 and its 200 day simple moving average is $115.80. The company has a market cap of $5.07 billion, a P/E ratio of 13.42, a PEG ratio of 0.52 and a beta of 1.18. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month 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.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (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%. On average, sell-side analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARW has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a report on Friday, February 7th. Bank of America cut Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.25.

Arrow Electronics Company 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.