Harbor Capital Advisors Inc. Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Harbor Capital Advisors Inc. raised its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,407 shares of the technology company's stock after acquiring an additional 5,242 shares during the period. Harbor Capital Advisors Inc.'s holdings in Arrow Electronics were worth $2,430,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARW. Meixler Investment Management Ltd. raised its holdings in shares of Arrow Electronics by 2.6% in the 4th quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company's stock worth $387,000 after buying an additional 88 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Arrow Electronics by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company's stock worth $539,000 after buying an additional 89 shares in the last quarter. Ironwood Investment Management LLC increased its holdings in Arrow Electronics by 0.4% during the 4th quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company's stock valued at $2,550,000 after purchasing an additional 100 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Arrow Electronics by 24.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock valued at $64,000 after purchasing an additional 112 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in Arrow Electronics by 6.4% during the 1st quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company's stock valued at $210,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Activity at Arrow Electronics

In related news, insider Eric Nowak sold 4,952 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $606,075.28. Following the transaction, the insider now owns 43,895 shares of the company's stock, valued at approximately $5,372,309.05. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics 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 transaction, the senior vice president now directly owns 17,057 shares in the company, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,070 shares of company stock worth $1,116,062. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Arrow Electronics Stock Down 1.3%

Shares of Arrow Electronics stock traded down $1.59 during trading on Friday, reaching $121.91. The stock had a trading volume of 792,652 shares, compared to its average volume of 496,052. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.52 and a beta of 1.09. The stock has a fifty day moving average price of $113.94 and a two-hundred day moving average price of $112.32. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.33. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. Arrow Electronics's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 earnings per share. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

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.