Wealthquest Corp Takes $372,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Wealthquest Corp bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,446 shares of the technology company's stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. boosted its stake in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock valued at $54,000 after acquiring an additional 126 shares in the last quarter. Truist Financial Corp boosted its stake in Arrow Electronics by 16.5% in the fourth quarter. Truist Financial Corp now owns 5,225 shares of the technology company's stock valued at $591,000 after acquiring an additional 741 shares in the last quarter. Ieq Capital LLC boosted its stake in Arrow Electronics by 35.2% in the fourth quarter. Ieq Capital LLC now owns 8,723 shares of the technology company's stock valued at $987,000 after acquiring an additional 2,271 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Arrow Electronics by 211.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 8,678 shares of the technology company's stock valued at $982,000 after acquiring an additional 5,891 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Arrow Electronics by 26.5% in the fourth quarter. IFP Advisors Inc now owns 630 shares of the technology company's stock valued at $71,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Activity at Arrow Electronics

In related news, Director Gail Hamilton sold 1,458 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 $178,444.62. Following the completion of the sale, the director now owns 101 shares in the company, valued at $12,361.39. This trade represents a 93.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the sale, the senior vice president now owns 17,057 shares of the company's stock, valued at approximately $2,125,984.48. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,070 shares of company stock worth $1,116,062 over the last 90 days. Company insiders own 1.00% of the company's stock.

Arrow Electronics Stock Performance

Shares of ARW traded down $1.00 during mid-day trading on Friday, hitting $127.28. 561,875 shares of the company's stock were exchanged, compared to its average volume of 488,137. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The firm has a market capitalization of $6.60 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.64 and a beta of 1.09. The business's 50 day moving average is $119.16 and its two-hundred day moving average is $112.76. 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, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter in the prior year, the firm earned $2.41 earnings per share. The business's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analysts Set New Price Targets

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

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.