Arrow Electronics (NYSE:ARW - Get Free Report) had its price objective increased by stock analysts at Bank of America from $105.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "underperform" rating on the technology company's stock. Bank of America's target price would indicate a potential downside of 11.00% from the company's current price.
Arrow Electronics Stock Performance
Shares of Arrow Electronics stock traded down $0.82 on Monday, reaching $123.59. 331,934 shares of the company traded hands, compared to its average volume of 494,260. The company has a 50 day moving average of $113.34 and a 200 day moving average of $112.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics has a 52 week low of $86.50 and a 52 week high of $137.80. The firm has a market capitalization of $6.41 billion, a PE ratio of 16.98, a PEG ratio of 0.52 and a beta of 1.09.
Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. The business had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.32 billion. During the same period in the previous year, the business posted $2.41 EPS. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Arrow Electronics will post 10.57 earnings per share for the current year.
Insider Activity at Arrow Electronics
In related news, insider Eric Nowak sold 4,952 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the sale, the insider now directly owns 43,895 shares of the company's stock, valued at $5,372,309.05. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gail Hamilton sold 1,458 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the transaction, the director now owns 101 shares in the company, valued at approximately $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,070 shares of company stock valued at $1,116,062. Corporate insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Choreo LLC bought a new position in Arrow Electronics in the fourth quarter worth approximately $422,000. Empowered Funds LLC boosted its stake in shares of Arrow Electronics by 5.6% during the 4th quarter. Empowered Funds LLC now owns 28,926 shares of the technology company's stock worth $3,272,000 after acquiring an additional 1,529 shares in the last quarter. Polaris Capital Management LLC grew its position in shares of 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 purchasing an additional 2,800 shares during the period. Quent Capital LLC grew its holdings in shares of Arrow Electronics by 45.1% during the fourth quarter. Quent Capital LLC now owns 1,246 shares of the technology company's stock worth $141,000 after buying an additional 387 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Arrow Electronics by 14.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,343 shares of the technology company's stock worth $929,000 after buying an additional 1,030 shares in the last quarter. Hedge funds and other institutional investors own 99.34% 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.
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