Wealthfront Advisers LLC Purchases Shares of 15,543 Arrow Electronics, Inc. (NYSE:ARW)

Wealthfront Advisers LLC bought a new position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,543 shares of the technology company's stock, valued at approximately $1,758,000.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after buying an additional 876,396 shares during the last quarter. Franklin Resources Inc. raised its holdings in Arrow Electronics by 1,072.6% in the third quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock worth $5,564,000 after buying an additional 37,746 shares during the last quarter. Cerity Partners LLC raised 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 worth $1,598,000 after buying an additional 7,028 shares during the last quarter. Lind Value II ApS raised its holdings 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 buying an additional 172,669 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Arrow Electronics by 115.0% in the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock worth $41,948,000 after buying an additional 168,904 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Arrow Electronics Stock Performance

Shares of ARW stock traded up $1.82 during trading hours on Wednesday, reaching $109.25. The company had a trading volume of 576,768 shares, compared to its average volume of 425,236. The business has a fifty day moving average price of $111.05 and a 200-day moving average price of $119.52. Arrow Electronics, Inc. has a one year low of $101.78 and a one year high of $137.80. The firm has a market cap of $5.70 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46.

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

Insider Activity at Arrow Electronics

In other news, Director William F. Austen purchased 1,900 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $104.12 per share, with a total value of $197,828.00. Following the completion of the acquisition, the director now directly owns 7,858 shares of the company's stock, valued at $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Yun Sung Cho sold 237 shares of Arrow Electronics stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at $226,810.78. This represents a 10.20 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARW shares. Wells Fargo & Company reduced 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 note on Friday, February 7th. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.