LSV Asset Management Has $229.56 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• LSV Asset Management has reduced its stake in Arrow Electronics by 2.5%, now holding over 2.2 million shares valued at approximately $229.6 million.
• Other institutional investors have increased their holdings significantly, with notable increases including a 111.7% rise from Golden State Wealth Management and a 300.5% increase from Lindbrook Capital.
• Analysts have mixed ratings on Arrow Electronics, with an overall average rating of "Hold" and a price target of $115.75, despite a recent increase in earnings per share that surpassed estimates.

LSV Asset Management cut its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,210,962 shares of the technology company's stock after selling 57,638 shares during the period. LSV Asset Management owned 4.26% of Arrow Electronics worth $229,564,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Arrow Electronics during the fourth quarter valued at $47,000. Exchange Traded Concepts LLC bought a new stake in shares of Arrow Electronics during the 1st quarter valued at $120,000. Lindbrook Capital LLC grew its position 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 valued at $161,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in Arrow Electronics by 110.3% during the fourth quarter. Headlands Technologies LLC now owns 1,455 shares of the technology company's stock valued at $165,000 after purchasing an additional 763 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Transactions at Arrow Electronics

In related news, Director Gail Hamilton sold 1,458 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the sale, the director owned 101 shares in the company, valued at approximately $12,361.39. This represents a 93.52% 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, CEO Sean J. Kerins acquired 8,630 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the acquisition, 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 9,070 shares of company stock valued at $1,116,062. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America boosted their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Arrow Electronics presently has a consensus rating of "Hold" and an average target price of $115.75.

Arrow Electronics Trading Up 1.2%

ARW stock traded up $1.36 during trading on Monday, hitting $116.02. The company had a trading volume of 673,624 shares, compared to its average volume of 469,856. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80. 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 $5.98 billion, a P/E ratio of 13.12, a PEG ratio of 0.57 and a beta of 1.10. The company has a 50 day simple moving average of $126.04 and a 200-day simple moving average of $115.27.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its 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 business had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $7.12 billion. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The business'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 earnings per share. As a group, research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

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.