Bank of America Corp DE Buys 730,408 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Bank of America Corp DE raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 163.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,176,527 shares of the technology company's stock after acquiring an additional 730,408 shares during the quarter. Bank of America Corp DE owned approximately 2.24% of Arrow Electronics worth $133,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Arrow Electronics by 3.2% during 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 in the last quarter. Boston Partners boosted its holdings in shares of Arrow Electronics by 14.8% during the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company's stock valued at $280,138,000 after buying an additional 318,329 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of Arrow Electronics by 1.1% in the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company's stock worth $215,477,000 after buying an additional 20,484 shares during the period. Fiduciary Management Inc. WI increased its stake in shares of 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 worth $175,214,000 after acquiring an additional 473,909 shares in the last quarter. Finally, Earnest Partners LLC lifted 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 valued at $168,114,000 after acquiring an additional 77,396 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

ARW has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price 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 Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Arrow Electronics presently has an average rating of "Hold" and an average target price of $121.25.

Insider Buying and Selling at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now owns 1,549 shares in the company, valued at $173,658.39. This represents a 18.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Austen bought 1,900 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $104.12 per share, with a total value of $197,828.00. Following the transaction, the director now owns 7,858 shares in the company, valued at $818,174.96. This trade represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Arrow Electronics Trading Down 0.3 %

NYSE:ARW opened at $117.96 on Friday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.52 and a beta of 1.10. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company's 50 day moving average price is $105.40 and its 200-day moving average price is $112.64. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.32 billion. During the same quarter last year, the company earned $2.41 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

About Arrow Electronics

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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