Signaturefd LLC Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Posted by Defense World Staff on Apr 15th, 2023

Signaturefd LLC lifted its holdings in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,362 shares of the technology company’s stock after purchasing an additional 399 shares during the period. Signaturefd LLC’s holdings in Arrow Electronics were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its holdings in Arrow Electronics by 31.9% in the 4th quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock worth $41,000 after buying an additional 94 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Arrow Electronics in the 1st quarter worth about $52,000. Exchange Traded Concepts LLC boosted its holdings in Arrow Electronics by 137.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 930 shares of the technology company’s stock worth $86,000 after buying an additional 538 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Arrow Electronics by 30.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock worth $88,000 after buying an additional 228 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Arrow Electronics by 55.6% in the 1st quarter. Covestor Ltd now owns 879 shares of the technology company’s stock worth $104,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARW shares. Raymond James lifted their price objective on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” 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. 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. Truist Financial boosted their target price on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a report on Friday, February 3rd. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.33.

Arrow Electronics Stock Down 0.1 %

ARW stock opened at $119.16 on Friday. The firm has a market cap of $6.86 billion, a PE ratio of 5.47, a PEG ratio of 1.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.48. The firm’s 50 day moving average price is $120.35 and its 200-day moving average price is $110.90. Arrow Electronics, Inc. has a one year low of $89.38 and a one year high of $134.56.

Arrow Electronics (NYSE:ARW – Get Rating) last released its quarterly 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 firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.31 billion. Arrow Electronics had a net margin of 3.84% and a return on equity of 26.96%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.37 EPS. On average, equities research analysts anticipate that Arrow Electronics, Inc. will post 15.8 EPS for the current year.

Insider Activity

In other news, Chairman Michael J. Long sold 3,712 shares of Arrow Electronics stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $120.29, for a total transaction of $446,516.48. Following the sale, the chairman now owns 209,172 shares of the company’s stock, valued at approximately $25,161,299.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Arrow Electronics news, Chairman Michael J. Long sold 3,712 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $120.29, for a total value of $446,516.48. Following the sale, the chairman now owns 209,172 shares of the company’s stock, valued at $25,161,299.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kristin Diana Russell sold 10,306 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total value of $1,213,016.20. Following the completion of the sale, the insider now directly owns 14,535 shares in the company, valued at approximately $1,710,769.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,010 shares of company stock valued at $4,612,191. 1.00% of the stock is currently owned by company insiders.

Arrow Electronics Company 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.