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

Key Points

• Wealthquest Corp has acquired a new position in Arrow Electronics, investing approximately $372,000 for 3,446 shares during the first quarter.
• Arrow Electronics reported earnings of $2.43 per share, exceeding analysts' expectations, with a revenue increase of 10% year-over-year, totaling $7.58 billion.
• Insider selling activity has been observed, with notable transactions by director Gail Hamilton and senior vice president Carine Lamercie Jean-Claude, decreasing their stock positions significantly.

Wealthquest Corp acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,446 shares of the technology company's stock, valued at approximately $372,000.

Several other large investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Arrow Electronics during the fourth quarter worth about $31,000. Golden State Wealth Management LLC increased its position in shares of Arrow Electronics by 111.7% during the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock worth $39,000 after acquiring an additional 200 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Arrow Electronics during the fourth quarter worth about $47,000. Exchange Traded Concepts LLC purchased a new stake in shares of Arrow Electronics during the first quarter worth about $120,000. Finally, Lindbrook Capital LLC increased its position in shares of Arrow Electronics by 300.5% during the first quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company's stock worth $161,000 after acquiring an additional 1,163 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARW has been the subject of a number of research reports. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America lifted 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Arrow Electronics currently has a consensus rating of "Hold" and a consensus price target of $115.75.

Arrow Electronics Stock Performance

ARW stock traded up $1.35 during midday trading on Tuesday, reaching $117.46. The company had a trading volume of 207,494 shares, compared to its average volume of 552,322. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $126.04 and a 200 day moving average price of $115.27. 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 $6.05 billion, a PE ratio of 13.29, a P/E/G ratio of 0.57 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company had revenue of $7.58 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Activity at Arrow Electronics

In related news, Director Gail Hamilton sold 1,458 shares of the company's stock in a transaction on 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 directly owned 101 shares in the company, valued at approximately $12,361.39. This represents a 93.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was 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 owned 17,057 shares of the company's stock, valued at $2,125,984.48. This represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,070 shares of company stock valued at $1,116,062. Insiders own 0.80% of the company's stock.

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.