Mackenzie Financial Corp Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• Mackenzie Financial Corp increased its stake in Arrow Electronics by 28.2%, now owning 44,678 shares valued at approximately $4.64 million.
• Arrow Electronics reported quarterly earnings of $2.43 per share, surpassing analyst estimates of $2.03, with a revenue of $7.58 billion.
• Analysts have mixed ratings on Arrow Electronics, with a consensus target price of $115.75 and investment opinions ranging from “sell” to “buy.”

Mackenzie Financial Corp raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,678 shares of the technology company's stock after acquiring an additional 9,827 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Arrow Electronics worth $4,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in Arrow Electronics by 111.7% during the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Arrow Electronics during the 4th quarter worth approximately $47,000. Exchange Traded Concepts LLC purchased a new position in shares of Arrow Electronics during the 1st quarter worth approximately $120,000. Lindbrook Capital LLC raised its stake 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 buying an additional 1,163 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Arrow Electronics by 110.3% during the 4th quarter. Headlands Technologies LLC now owns 1,455 shares of the technology company's stock worth $165,000 after buying an additional 763 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Down 0.5%

Shares of ARW stock traded down $0.58 during mid-day trading on Wednesday, hitting $117.09. 305,605 shares of the company's stock were exchanged, compared to its average volume of 552,528. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The stock has a 50-day simple moving average of $125.99 and a two-hundred day simple moving average of $115.28. 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 stock has a market cap of $6.03 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.55 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.40. The business had revenue of $7.58 billion for 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.78 earnings per share. Equities analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Transactions at Arrow Electronics

In related news, insider Eric Nowak sold 4,952 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the transaction, the insider directly owned 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Gail Hamilton sold 1,458 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $178,444.62. Following the completion of the transaction, the director directly owned 101 shares in the company, valued at $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,070 shares of company stock valued at $1,116,062. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

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

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.