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

Pallas Capital Advisors LLC bought a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,401 shares of the technology company's stock, valued at approximately $249,000.

A number of other large investors also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. bought a new position in shares of Arrow Electronics during the fourth quarter valued at about $25,000. Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics during the 4th quarter valued at about $31,000. New Age Alpha Advisors LLC bought a new position in Arrow Electronics during the 4th quarter worth approximately $47,000. Principal Securities Inc. increased its stake in Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock worth $54,000 after purchasing an additional 126 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in Arrow Electronics in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 99.34% of the company's stock.

Arrow Electronics Trading Down 0.5%

NYSE:ARW traded down $0.59 during mid-day trading on Tuesday, reaching $124.24. 381,066 shares of the company's stock traded hands, compared to its average volume of 495,091. The company has a 50 day moving average price of $115.06 and a 200-day moving average price of $112.44. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.43 and a quick ratio of 1.05. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80.

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

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research note on Monday, June 9th.

Insiders Place Their Bets

In other Arrow Electronics news, Director Gail Hamilton sold 1,458 shares of the company's stock in a transaction that occurred 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 represents a 93.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Nowak sold 4,952 shares of Arrow Electronics 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 $606,075.28. Following the sale, the insider now owns 43,895 shares in the company, valued at $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,070 shares of company stock worth $1,116,062. 0.80% of the stock is currently owned by corporate 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.