LPL Financial LLC Acquires 2,475 Shares of Arrow Electronics, Inc. (NYSE:ARW)

LPL Financial LLC boosted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 34,386 shares of the technology company’s stock after purchasing an additional 2,475 shares during the period. LPL Financial LLC’s holdings in Arrow Electronics were worth $3,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ARW. Bank of America Corp DE lifted its holdings in shares of Arrow Electronics by 163.7% in the fourth quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company’s stock valued at $133,089,000 after purchasing an additional 730,408 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of Arrow Electronics by 44.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company’s stock valued at $175,214,000 after purchasing an additional 473,909 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Arrow Electronics by 31,181.6% in the first quarter. GAMMA Investing LLC now owns 269,647 shares of the technology company’s stock valued at $279,970,000 after purchasing an additional 268,785 shares during the last quarter. ARGA Investment Management LP grew its position in shares of Arrow Electronics by 273.3% in the first quarter. ARGA Investment Management LP now owns 293,561 shares of the technology company’s stock valued at $30,480,000 after purchasing an additional 214,926 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Arrow Electronics by 1,666.9% during the fourth quarter. Tidal Investments LLC now owns 127,620 shares of the technology company’s stock worth $14,436,000 after buying an additional 120,397 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

Shares of ARW opened at $123.77 on Friday. The company has a market cap of $6.37 billion, a PE ratio of 14.00, a P/E/G ratio of 0.60 and a beta of 1.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.07. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80. The stock has a 50-day moving average of $126.37 and a 200-day moving average of $115.52.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.40. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.12 billion. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.78 EPS. On average, equities research analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sean J. Kerins purchased 8,630 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $114.91 per share, with a total value of $991,673.30. Following the acquisition, the chief executive officer owned 122,408 shares of the company’s stock, valued at $14,065,903.28. This trade represents a 7.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the sale, the senior vice president directly owned 17,057 shares in the company, valued at $2,125,984.48. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARW. Wall Street Zen raised Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Bank of America upped their target price on Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $115.75.

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.