Proficio Capital Partners LLC Makes New $1.97 Million Investment in Arrow Electronics, Inc. (NYSE:ARW)

Proficio Capital Partners LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,420 shares of the technology company's stock, valued at approximately $1,971,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARW. Pacer Advisors Inc. boosted its holdings in Arrow Electronics by 71.9% in the 3rd 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 during the period. FMR LLC boosted its holdings in Arrow Electronics by 371.1% in 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 period. Lind Value II ApS boosted its holdings in Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company's stock worth $73,374,000 after acquiring an additional 172,669 shares during the period. JPMorgan Chase & Co. boosted its holdings in Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock worth $41,948,000 after acquiring an additional 168,904 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted 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 acquiring an additional 102,854 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

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Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the sale, the chief accounting officer now directly owns 1,549 shares of the company's stock, valued at approximately $173,658.39. This represents a 18.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William F. Austen purchased 1,900 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the transaction, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Arrow Electronics Stock Down 1.6 %

Shares of Arrow Electronics stock traded down $1.70 on Friday, hitting $104.24. 3,018,152 shares of the company's stock traded hands, compared to its average volume of 435,859. The stock has a market cap of $5.44 billion, a P/E ratio of 14.32, a PEG ratio of 0.52 and a beta of 1.26. 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 firm's 50-day moving average is $110.71 and its 200 day moving average is $119.07. Arrow Electronics, Inc. has a 52-week low of $101.78 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $2.97 EPS 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 analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ARW shares. Wells Fargo & Company decreased 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 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 stock. Based on data from MarketBeat.com, Arrow Electronics has a consensus rating of "Hold" and an average target price of $121.25.

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.