Skandinaviska Enskilda Banken AB publ Acquires 16,724 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Arrow Electronics by 91.3%, owning 35,032 shares valued at approximately $3.6 million.
• Insider transactions included Director Gail Hamilton selling 1,458 shares, reducing their stake by 93.52%, and insider Eric Nowak selling 4,952 shares, decreasing their position by 10.14%.
• Arrow Electronics recently received an upgrade from a "hold" to a "buy" rating by Wall Street Zen, with a consensus rating of "Hold" and an average price target of $115.75.

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 91.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,032 shares of the technology company's stock after purchasing an additional 16,724 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Arrow Electronics worth $3,637,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Arrow Electronics by 12.0% during the 1st quarter. Cetera Investment Advisers now owns 9,314 shares of the technology company's stock valued at $967,000 after purchasing an additional 997 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Arrow Electronics by 18.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,438 shares of the technology company's stock worth $357,000 after buying an additional 539 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of Arrow Electronics by 399.5% in the 1st quarter. ACR Alpine Capital Research LLC now owns 86,541 shares of the technology company's stock worth $8,986,000 after buying an additional 69,214 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Arrow Electronics in the 1st quarter worth $354,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Arrow Electronics by 1.6% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,847 shares of the technology company's stock worth $4,968,000 after buying an additional 740 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

Arrow Electronics stock traded down $1.37 during trading on Friday, reaching $114.63. The company had a trading volume of 428,612 shares, compared to its average volume of 549,364. Arrow Electronics, Inc. has a 52 week low of $86.50 and a 52 week high of $137.80. The firm's 50-day simple moving average is $126.11 and its 200 day simple moving average is $115.25. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The company had revenue of $7.58 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the firm earned $2.78 EPS. Arrow Electronics's revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARW has been the topic of a number of research reports. Bank of America raised their price target on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a research note on Monday, June 9th. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $115.75.

Insider Buying and Selling

In other Arrow Electronics news, Director Gail Hamilton sold 1,458 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $178,444.62. Following the sale, the director directly owned 101 shares of the company's stock, valued at $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider directly owned 43,895 shares in the company, valued at approximately $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 three months, insiders have sold 9,070 shares of company stock valued at $1,116,062. 1.00% of the stock is owned by company insiders.

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.