Guggenheim Capital LLC Increases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Posted by Defense World Staff on Mar 6th, 2023

Guggenheim Capital LLC boosted its stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 17.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,935 shares of the technology company’s stock after purchasing an additional 2,072 shares during the quarter. Guggenheim Capital LLC’s holdings in Arrow Electronics were worth $1,285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wetherby Asset Management Inc. grew its stake in shares of Arrow Electronics by 3.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company’s stock valued at $358,000 after buying an additional 101 shares during the period. Synovus Financial Corp increased its stake in Arrow Electronics by 3.5% during the second quarter. Synovus Financial Corp now owns 3,232 shares of the technology company’s stock worth $359,000 after acquiring an additional 108 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Arrow Electronics by 4.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,567 shares of the technology company’s stock worth $237,000 after purchasing an additional 109 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Arrow Electronics by 0.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 13,119 shares of the technology company’s stock valued at $1,209,000 after purchasing an additional 110 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Arrow Electronics by 2.9% during the 3rd quarter. Park Avenue Securities LLC now owns 4,059 shares of the technology company’s stock worth $374,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kristin Diana Russell sold 10,306 shares of Arrow Electronics stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $117.70, for a total value of $1,213,016.20. Following the completion of the transaction, the insider now directly owns 14,535 shares in the company, valued at $1,710,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ARW shares. Truist Financial lifted their price target on shares of Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, February 3rd. The Goldman Sachs Group increased their price target on Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, February 6th. Raymond James upped their target price on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Citigroup raised their target price on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Finally, Wells Fargo & Company upped their price target on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Arrow Electronics has an average rating of “Hold” and a consensus target price of $125.33.

Arrow Electronics Trading Up 0.0 %

Shares of ARW opened at $120.21 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.48. Arrow Electronics, Inc. has a one year low of $89.38 and a one year high of $134.56. The stock has a 50-day moving average price of $116.98 and a 200 day moving average price of $107.72. The company has a market capitalization of $7.01 billion, a P/E ratio of 5.52, a P/E/G ratio of 1.91 and a beta of 1.41.

Arrow Electronics (NYSE:ARW – Get Rating) last released its earnings results on Thursday, February 2nd. The technology company reported $5.69 EPS for the quarter, beating the consensus estimate of $5.68 by $0.01. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.31 billion. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.37 EPS. Sell-side analysts forecast that Arrow Electronics, Inc. will post 15.8 EPS for the current fiscal year.

Arrow Electronics Profile

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.