Entropy Technologies LP Invests $1.99 Million 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 bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,174 shares of the technology company's stock, valued at approximately $1,991,000.

A number of other institutional investors also recently bought and sold shares of ARW. Golden State Wealth Management LLC boosted its position in Arrow Electronics by 111.7% during the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Covestor Ltd raised its holdings in shares of Arrow Electronics by 14.9% in the first 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 last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Arrow Electronics in the first quarter worth $120,000. Lindbrook Capital LLC raised its holdings in shares of Arrow Electronics by 300.5% in the first 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 last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of Arrow Electronics in the first quarter worth $203,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 1.9%

Shares of NYSE ARW traded down $2.44 on Friday, hitting $123.43. The company had a trading volume of 55,091 shares, compared to its average volume of 548,481. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The business has a 50 day moving average of $126.34 and a two-hundred day moving average of $115.47. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.36 billion, a P/E ratio of 13.96, a PEG ratio of 0.60 and a beta of 1.10.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARW. Bank of America boosted their price target on 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 Arrow Electronics from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics presently has a consensus rating of "Hold" and a consensus target price of $115.75.

Insider Activity at Arrow Electronics

In other news, 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 transaction of $331,542.40. Following the sale, the senior vice president directly owned 17,057 shares in the company, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean J. Kerins purchased 8,630 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $114.91 per share, for a total transaction of $991,673.30. Following the completion of the transaction, the chief executive officer directly owned 122,408 shares in the company, valued at approximately $14,065,903.28. This trade represents a 7.58% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

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.