Entropy Technologies LP Acquires New Stake in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• Entropy Technologies LP acquired a new stake in Arrow Electronics, Inc. by purchasing approximately 19,174 shares valued at around $1,991,000 during the first quarter.
• Research firms have shown mixed sentiments on Arrow Electronics, with Bank of America raising the target price to $110.00 while Wall Street Zen upgraded the stock from a "hold" to a "buy" rating.
• Arrow Electronics reported a quarterly earnings per share (EPS) of $2.43, surpassing analyst expectations, with a revenue of $7.58 billion which is a 10% increase compared to the same quarter last year.

Entropy Technologies LP acquired a new stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,174 shares of the technology company's stock, valued at approximately $1,991,000.

Several other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in Arrow Electronics by 14.9% in the first quarter. Covestor Ltd now owns 1,118 shares of the technology company's stock valued at $116,000 after purchasing an additional 145 shares during the last quarter. Wambolt & Associates LLC lifted its position in shares of Arrow Electronics by 7.1% during the first quarter. Wambolt & Associates LLC now owns 8,571 shares of the technology company's stock worth $885,000 after acquiring an additional 565 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Arrow Electronics by 59.5% during the first quarter. Deutsche Bank AG now owns 77,225 shares of the technology company's stock worth $8,018,000 after acquiring an additional 28,819 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Arrow Electronics by 96.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 16,494 shares of the technology company's stock worth $1,713,000 after acquiring an additional 8,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Arrow Electronics by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 509,679 shares of the technology company's stock worth $52,920,000 after acquiring an additional 10,772 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARW. Bank of America increased their target price on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research report on Monday, June 9th. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $115.75.

Arrow Electronics Trading Up 1.9%

Shares of ARW stock opened at $120.82 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.39. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80. The company has a market capitalization of $6.22 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The business's fifty day moving average is $125.98 and its 200 day moving average is $115.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the business posted $2.78 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction 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 transaction, the senior vice president owned 17,057 shares of the company's stock, valued at $2,125,984.48. This represents a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean J. Kerins bought 8,630 shares of Arrow Electronics stock in a transaction that occurred 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 purchase, the chief executive officer owned 122,408 shares of the company's stock, valued at $14,065,903.28. The trade was a 7.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.80% 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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