ARGA Investment Management LP Invests $934,000 in Arrow Electronics, Inc. (NYSE:ARW)

ARGA Investment Management LP bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,636 shares of the technology company's stock, valued at approximately $934,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oak Thistle LLC acquired a new stake in shares of Arrow Electronics during the fourth quarter worth $1,012,000. AustralianSuper Pty Ltd boosted its position in shares of Arrow Electronics by 172.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 92,990 shares of the technology company's stock worth $11,368,000 after buying an additional 58,866 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Arrow Electronics during the fourth quarter worth about $1,259,000. Mackenzie Financial Corp boosted its position in Arrow Electronics by 182.4% during the fourth quarter. Mackenzie Financial Corp now owns 40,472 shares of the technology company's stock valued at $4,948,000 after purchasing an additional 26,142 shares during the last quarter. Finally, South Dakota Investment Council boosted its position in Arrow Electronics by 3.3% during the third quarter. South Dakota Investment Council now owns 74,556 shares of the technology company's stock valued at $9,337,000 after purchasing an additional 2,372 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Ratings Changes

Separately, Truist Financial cut their price objective on Arrow Electronics from $128.00 to $124.00 and set a "hold" rating for the company in a research report on Friday, February 9th.

Arrow Electronics Trading Down 0.2 %

ARW traded down $0.21 during midday trading on Thursday, hitting $129.77. 281,577 shares of the company were exchanged, compared to its average volume of 527,703. The firm has a market capitalization of $6.91 billion, a P/E ratio of 10.30 and a beta of 1.39. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $147.42. The firm's 50 day moving average price is $125.19 and its 200-day moving average price is $120.43. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.04. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.08 billion. During the same period in the previous year, the business earned $4.60 EPS. The firm's revenue was down 20.7% compared to the same quarter last year. As a group, equities analysts forecast that Arrow Electronics, Inc. will post 10.77 EPS for the current fiscal year.

Insider Activity

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard John Marano sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the sale, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. Insiders sold a total of 4,134 shares of company stock valued at $488,795 over the last three months. Corporate insiders own 1.00% 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.

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