Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 33.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,864 shares of the technology company's stock after purchasing an additional 2,982 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Arrow Electronics were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in Arrow Electronics in the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics in the fourth quarter worth about $31,000. New Age Alpha Advisors LLC purchased a new position in Arrow Electronics in the 4th quarter worth about $47,000. CoreFirst Bank & Trust bought a new stake in Arrow Electronics during the 4th quarter valued at about $55,000. Finally, IFP Advisors Inc grew its stake in Arrow Electronics by 26.5% in the 4th quarter. IFP Advisors Inc now owns 630 shares of the technology company's stock worth $71,000 after acquiring an additional 132 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock traded up $0.23 on Thursday, reaching $132.17. 240,850 shares of the stock were exchanged, compared to its average volume of 488,851. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $121.04 and a two-hundred day moving average price of $113.01. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.66 and a beta of 1.10.

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, beating analysts' consensus estimates of $1.47 by $0.33. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.32 billion. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.41 EPS. Analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a report on Monday, June 9th.

Insiders Place Their Bets

In other Arrow Electronics news, insider Eric Nowak sold 4,952 shares of Arrow Electronics stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $606,075.28. Following the transaction, the insider directly owned 43,895 shares of the company's stock, valued at $5,372,309.05. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the transaction, the senior vice president owned 17,057 shares of the company's stock, valued at $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,070 shares of company stock valued at $1,116,062 in the last 90 days. 1.00% of the stock is owned by insiders.

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.