Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Arrow Electronics by 114.8% in Q1, acquiring an additional 23,729 shares, bringing its total holdings to 44,398 shares valued at approximately $4.61 million.
• Insider trading activity included significant sales, with Director Gail Hamilton selling 1,458 shares for over $178,000, representing a 93.52% decrease in her position.
• Wall Street analysts upgraded Arrow Electronics to a "buy" rating, while Bank of America raised the target price to $110.00, though some analysts maintain a sell rating.

Victory Capital Management Inc. increased its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 114.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,398 shares of the technology company's stock after acquiring an additional 23,729 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Arrow Electronics worth $4,610,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC lifted 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 valued at $274,000 after buying an additional 106 shares in the last quarter. Net Worth Advisory Group increased its position in shares of Arrow Electronics by 1.8% during the first quarter. Net Worth Advisory Group now owns 6,724 shares of the technology company's stock worth $698,000 after purchasing an additional 117 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake 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 purchasing an additional 121 shares during the last quarter. Fulton Bank N.A. lifted 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 purchasing an additional 122 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in Arrow Electronics by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,577 shares of the technology company's stock worth $683,000 after purchasing an additional 124 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Eric Nowak sold 4,952 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 $606,075.28. Following the completion of the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gail Hamilton sold 1,458 shares of the company'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 $12,361.39. The trade was a 93.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,070 shares of company stock valued at $1,116,062 in the last quarter. Insiders own 1.00% of the company's stock.

Arrow Electronics Trading Up 0.2%

NYSE:ARW traded up $0.29 on Wednesday, hitting $130.32. The stock had a trading volume of 803,069 shares, compared to its average volume of 349,842. The company has a fifty day moving average price of $125.94 and a two-hundred day moving average price of $115.11. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year 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 has a market cap of $6.76 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 0.65 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 EPS 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 8.97%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 EPS. Equities research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America raised 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. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Arrow Electronics has a consensus rating of "Hold" and an average target price 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.