Oak Thistle LLC Purchases New Shares in Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• Oak Thistle LLC invested approximately $354,000 in Arrow Electronics, acquiring 3,412 shares in the first quarter.
• Wall Street analysts have upgraded Arrow Electronics' rating from "hold" to "buy," with a target price increase from $105.00 to $110.00.
• In recent transactions, insider sales have been reported, with one insider selling 4,952 shares valued at over $606,000, reflecting a notable decrease in their position.

Oak Thistle LLC purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,412 shares of the technology company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beverly Hills Private Wealth LLC raised its stake in Arrow Electronics by 4.2% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,643 shares of the technology company's stock worth $274,000 after purchasing an additional 106 shares in the last quarter. Net Worth Advisory Group raised its position in shares of Arrow Electronics by 1.8% in the first quarter. Net Worth Advisory Group now owns 6,724 shares of the technology company's stock valued at $698,000 after buying an additional 117 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Arrow Electronics by 2.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,887 shares of the technology company's stock valued at $507,000 after acquiring an additional 121 shares in the last quarter. Fulton Bank N.A. raised its holdings in Arrow Electronics by 6.4% in the 1st quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company's stock valued at $210,000 after acquiring an additional 122 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in Arrow Electronics by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,577 shares of the technology company's stock valued at $683,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Arrow Electronics Trading Up 0.5%

ARW traded up $0.63 during trading on Tuesday, reaching $129.34. 85,318 shares of the stock traded hands, compared to its average volume of 541,203. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average is $125.76 and its 200 day moving average is $115.01. The stock has a market capitalization of $6.71 billion, a PE ratio of 17.81, a P/E/G ratio of 0.64 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.33. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. Arrow Electronics's revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 earnings per share. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Buying and Selling 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail Hamilton sold 1,458 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 transaction of $178,444.62. Following the completion of the transaction, the director directly owned 101 shares in the company, valued at approximately $12,361.39. The trade was a 93.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,070 shares of company stock valued at $1,116,062. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARW shares. Bank of America boosted their price target on Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $115.75.

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.