Greenleaf Trust Boosts Position in Arrow Electronics, Inc. (NYSE:ARW)

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,480 shares of the technology company’s stock after buying an additional 372 shares during the period. Greenleaf Trust’s holdings in Arrow Electronics were worth $364,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ARW. Panagora Asset Management Inc. grew its stake in Arrow Electronics by 12.3% in the first quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock worth $413,000 after purchasing an additional 380 shares during the period. Blair William & Co. IL purchased a new stake in Arrow Electronics in the first quarter worth $273,000. Prudential PLC purchased a new stake in Arrow Electronics in the first quarter worth $302,000. Cetera Investment Advisers purchased a new stake in Arrow Electronics in the first quarter worth $275,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics in the first quarter worth $52,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Down 3.3 %

Shares of NYSE:ARW opened at $115.72 on Friday. The company has a market cap of $6.74 billion, a P/E ratio of 5.31, a PEG ratio of 1.91 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.48 and a quick ratio of 1.05. Arrow Electronics, Inc. has a 1 year low of $89.38 and a 1 year high of $134.56. The stock’s fifty day moving average price is $120.85 and its 200-day moving average price is $110.06.

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

Analyst Ratings Changes

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

Insider Activity at Arrow Electronics

In related news, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $118.00, for a total transaction of $2,090,960.00. Following the completion of the sale, the chairman now owns 185,472 shares in the company, valued at $21,885,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Michael J. Long sold 3,712 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $120.29, for a total transaction of $446,516.48. Following the completion of the sale, the chairman now owns 209,172 shares in the company, valued at $25,161,299.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael J. Long sold 17,720 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $118.00, for a total value of $2,090,960.00. Following the completion of the sale, the chairman now owns 185,472 shares of the company’s stock, valued at approximately $21,885,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,010 shares of company stock worth $4,612,191. 1.00% of the stock is owned by insiders.

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.