AIA Group Ltd Raises Stake in Arrow Electronics, Inc. (NYSE:ARW)

AIA Group Ltd boosted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 41.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,074 shares of the technology company’s stock after purchasing an additional 607 shares during the period. AIA Group Ltd’s holdings in Arrow Electronics were worth $246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kendall Capital Management grew its position in Arrow Electronics by 4.5% during the 1st quarter. Kendall Capital Management now owns 24,340 shares of the technology company’s stock worth $2,887,000 after purchasing an additional 1,050 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of Arrow Electronics in the first quarter valued at about $211,000. IFM Investors Pty Ltd boosted its holdings in shares of Arrow Electronics by 23.5% in the first quarter. IFM Investors Pty Ltd now owns 12,530 shares of the technology company’s stock valued at $1,486,000 after acquiring an additional 2,386 shares in the last quarter. Affinity Investment Advisors LLC boosted its holdings in shares of Arrow Electronics by 12.1% in the first quarter. Affinity Investment Advisors LLC now owns 5,604 shares of the technology company’s stock valued at $665,000 after acquiring an additional 605 shares in the last quarter. Finally, Aigen Investment Management LP boosted its holdings in shares of Arrow Electronics by 112.3% in the first quarter. Aigen Investment Management LP now owns 8,842 shares of the technology company’s stock valued at $1,049,000 after acquiring an additional 4,677 shares in the last quarter. 93.38% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 2.8 %

Shares of NYSE ARW opened at $115.77 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. Arrow Electronics, Inc. has a 52 week low of $105.33 and a 52 week high of $137.95. The firm has a 50-day moving average price of $116.29 and a 200 day moving average price of $119.23. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 5.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35.

Arrow Electronics (NYSE:ARW – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $5.78 EPS for the quarter, beating the consensus estimate of $5.57 by $0.21. Arrow Electronics had a net margin of 3.87% and a return on equity of 26.76%. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter last year, the business earned $3.34 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Arrow Electronics, Inc. will post 21.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Arrow Electronics from $158.00 to $127.00 in a report on Friday, July 15th. Truist Financial lowered their target price on shares of Arrow Electronics from $143.00 to $126.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Finally, StockNews.com downgraded shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Monday, July 18th.

Insiders Place Their Bets

In other Arrow Electronics news, SVP Vincent P. Melvin sold 5,334 shares of Arrow Electronics stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $122.26, for a total transaction of $652,134.84. Following the completion of the transaction, the senior vice president now owns 25,381 shares in the company, valued at $3,103,081.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arrow Electronics news, SVP Vincent P. Melvin sold 5,334 shares of Arrow Electronics stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $122.26, for a total transaction of $652,134.84. Following the completion of the transaction, the senior vice president now owns 25,381 shares in the company, valued at $3,103,081.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,000 shares of Arrow Electronics stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the transaction, the senior vice president now owns 11,105 shares of the company’s stock, valued at approximately $1,382,572.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,475 shares of company stock worth $3,648,254. Insiders own 1.00% of the company’s stock.

Arrow Electronics Company Profile

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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.