Ontario Teachers Pension Plan Board Purchases 8,088 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Arrow Electronics by 96.2%, acquiring an additional 8,088 shares and bringing its total to 16,494 shares, valued at approximately $1.7 million.
• Insider transactions include CEO Sean J. Kerins purchasing 8,630 shares at $114.91 per share, while SVP Carine Lamercie Jean-Claude sold 2,660 shares at an average price of $124.64.
• Arrow Electronics recently reported quarterly earnings of $2.43 EPS, exceeding expectations, with revenues reaching $7.58 billion, reflecting a 10% year-over-year growth.

Ontario Teachers Pension Plan Board raised its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 96.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,494 shares of the technology company's stock after acquiring an additional 8,088 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Arrow Electronics were worth $1,713,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Arrow Electronics by 33.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company's stock worth $1,232,000 after buying an additional 2,982 shares in the last quarter. Golden State Wealth Management LLC increased its position in Arrow Electronics by 111.7% in the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after buying an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Arrow Electronics in the first quarter worth about $356,000. GAMMA Investing LLC increased its position in Arrow Electronics by 201.3% in the first quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company's stock worth $270,000 after buying an additional 1,735 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in Arrow Electronics by 99.5% in the first quarter. Edgestream Partners L.P. now owns 115,474 shares of the technology company's stock worth $11,990,000 after buying an additional 57,590 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Insider Transactions at Arrow Electronics

In other news, CEO Sean J. Kerins purchased 8,630 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $114.91 per share, with a total value of $991,673.30. Following the completion of the purchase, the chief executive officer owned 122,408 shares in the company, valued at approximately $14,065,903.28. This represents a 7.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the transaction, the senior vice president directly owned 17,057 shares of the company's stock, valued at approximately $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock valued at $1,116,062 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ARW shares. Bank of America upped their price target on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research report on Monday, June 9th. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Arrow Electronics currently has an average rating of "Hold" and an average price target of $115.75.

Arrow Electronics Stock Performance

NYSE:ARW opened at $118.42 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80. The stock has a 50-day moving average price of $125.93 and a 200 day moving average price of $115.30. The stock has a market capitalization of $6.10 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.55 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced 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. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the company earned $2.78 earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.