Arrow Electronics (NYSE:ARW) Price Target Raised to $110.00 at Bank of America

Arrow Electronics (NYSE:ARW - Get Free Report) had its target price raised by investment analysts at Bank of America from $105.00 to $110.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "underperform" rating on the technology company's stock. Bank of America's price objective points to a potential downside of 11.20% from the stock's current price.

Arrow Electronics Trading Up 1.6%

Shares of ARW stock traded up $1.94 during trading on Monday, hitting $123.87. 60,014 shares of the stock traded hands, compared to its average volume of 492,802. 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 $6.43 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09. The firm's fifty day moving average price is $111.07 and its 200-day moving average price is $112.20. 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 (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. The business's quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that Arrow Electronics will post 10.57 earnings per share for the current fiscal year.

Insider Activity at Arrow Electronics

In related news, insider Eric Nowak sold 4,952 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $606,075.28. Following the completion of the sale, the insider now owns 43,895 shares in the company, valued at $5,372,309.05. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gail Hamilton sold 1,458 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 $178,444.62. Following the sale, the director now owns 101 shares of the company's stock, valued at approximately $12,361.39. This represents a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Arrow Electronics by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,930,459 shares of the technology company's stock valued at $331,493,000 after purchasing an additional 91,310 shares during the period. Boston Partners increased its stake in shares of Arrow Electronics by 14.8% during the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock worth $280,138,000 after acquiring an additional 318,329 shares during the period. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 0.5% during the first quarter. Greenhaven Associates Inc. now owns 1,913,757 shares of the technology company's stock worth $198,705,000 after purchasing an additional 8,900 shares in the last quarter. Fiduciary Management Inc. WI boosted its holdings in Arrow Electronics by 44.1% in the 4th 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 in the last quarter. Finally, Earnest Partners LLC increased its position in Arrow Electronics by 5.5% during the 4th quarter. Earnest Partners LLC now owns 1,486,157 shares of the technology company's stock worth $168,114,000 after purchasing an additional 77,396 shares during the period. Institutional investors and hedge funds own 99.34% of the company's stock.

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.

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