Pallas Capital Advisors LLC Invests $249,000 in Arrow Electronics, Inc. (NYSE:ARW)

Pallas Capital Advisors LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,401 shares of the technology company's stock, valued at approximately $249,000.

A number of other institutional investors also recently made changes to their positions in the stock. Meixler Investment Management Ltd. lifted its stake in Arrow Electronics by 2.6% during the fourth quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company's stock valued at $387,000 after purchasing an additional 88 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Arrow Electronics by 1.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company's stock valued at $539,000 after acquiring an additional 89 shares during the period. Ironwood Investment Management LLC raised its holdings in shares of Arrow Electronics by 0.4% during the fourth quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company's stock valued at $2,550,000 after acquiring an additional 100 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Arrow Electronics by 24.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock valued at $64,000 after acquiring an additional 112 shares during the period. Finally, Fulton Bank N.A. raised its holdings in shares of Arrow Electronics by 6.4% during the first 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 during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Stock Down 1.3%

ARW stock opened at $121.91 on Friday. Arrow Electronics, Inc. has a 52-week low of $86.50 and a 52-week high of $137.80. The company's 50 day simple moving average is $113.94 and its 200-day simple moving average is $112.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. The firm has a market capitalization of $6.32 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.52 and a beta of 1.09.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.33. The firm 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 9.69%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.41 EPS. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Bank of America boosted their price target 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.

Insider Buying and Selling at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the transaction, the senior vice president now owns 17,057 shares in the company, valued at $2,125,984.48. This represents a 13.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $178,444.62. Following the transaction, the director now owns 101 shares in the company, valued at approximately $12,361.39. This trade represents a 93.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,070 shares of company stock worth $1,116,062. 1.00% of the stock is currently owned by company insiders.

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.

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