CCM Investment Group LLC Invests $611,000 in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• CCM Investment Group LLC has acquired a new stake in Arrow Electronics, purchasing 5,888 shares valued at approximately $611,000 during the first quarter.
• In the fourth quarter, FMR LLC and Bank of America Corp DE significantly increased their holdings in Arrow Electronics by 208.8% and 163.7%, respectively, showcasing strong institutional interest in the company.
• Arrow Electronics reported earnings of $2.43 per share, surpassing analysts' estimates and achieved a revenue of $7.58 billion, indicating a 10% year-over-year revenue growth.

CCM Investment Group LLC acquired a new stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,888 shares of the technology company's stock, valued at approximately $611,000.

A number of other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its holdings in shares of Arrow Electronics by 111.7% during the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after acquiring an additional 200 shares during the period. Covestor Ltd lifted its holdings in shares of Arrow Electronics by 14.9% during the 1st quarter. Covestor Ltd now owns 1,118 shares of the technology company's stock worth $116,000 after acquiring an additional 145 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Arrow Electronics during the 1st quarter worth approximately $120,000. Lindbrook Capital LLC lifted its holdings in shares of Arrow Electronics by 300.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company's stock worth $161,000 after acquiring an additional 1,163 shares during the period. Finally, Simon Quick Advisors LLC bought a new stake in shares of Arrow Electronics during the 1st quarter worth approximately $203,000. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Price Performance

NYSE:ARW traded down $2.51 on Friday, hitting $123.35. The company had a trading volume of 64,460 shares, compared to its average volume of 548,562. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.60 and a beta of 1.10. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $126.34 and a two-hundred day moving average of $115.47. 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 issued its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate 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 net margin of 1.64% and a return on equity of 8.37%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.78 EPS. On average, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Activity at Arrow Electronics

In other Arrow Electronics news, CEO Sean J. Kerins purchased 8,630 shares of the firm's stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the transaction, the chief executive officer owned 122,408 shares in the company, valued at $14,065,903.28. The trade was a 7.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 17,057 shares of the company's stock, valued at approximately $2,125,984.48. This trade represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ARW has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a report on Monday, June 9th. Wall Street Zen raised shares of Arrow Electronics from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two equities 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 company's stock. Based on data from MarketBeat, Arrow Electronics currently has an average rating of "Hold" and an average price target of $115.75.

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.