Pictet Asset Management SA lifted its holdings in Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 84,522 shares of the technology company’s stock after purchasing an additional 17,806 shares during the quarter. Pictet Asset Management SA owned about 0.15% of Arrow Electronics worth $10,554,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Arrow Electronics by 11.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,717 shares of the technology company’s stock valued at $839,000 after purchasing an additional 683 shares during the period. Tower Research Capital LLC TRC boosted its position in Arrow Electronics by 127.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,487 shares of the technology company’s stock worth $435,000 after acquiring an additional 1,953 shares during the last quarter. US Bancorp DE boosted its position in Arrow Electronics by 4.2% during the 1st quarter. US Bancorp DE now owns 22,143 shares of the technology company’s stock worth $2,765,000 after acquiring an additional 884 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in Arrow Electronics during the 1st quarter worth approximately $283,000. Finally, Brown Advisory Inc. boosted its position in Arrow Electronics by 5.9% during the 1st quarter. Brown Advisory Inc. now owns 17,725 shares of the technology company’s stock worth $2,213,000 after acquiring an additional 985 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on ARW shares. StockNews.com started coverage on Arrow Electronics in a research report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America dropped their price objective on Arrow Electronics from $155.00 to $148.00 in a research note on Sunday, August 6th. Finally, Truist Financial upped their price objective on Arrow Electronics from $131.00 to $138.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $129.57.
Insiders Place Their Bets
In other Arrow Electronics news, SVP Gretchen Zech sold 4,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $126.26, for a total transaction of $505,040.00. Following the transaction, the senior vice president now owns 27,925 shares in the company, valued at approximately $3,525,810.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arrow Electronics news, Director Gail Hamilton sold 1,419 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $127.81, for a total transaction of $181,362.39. Following the transaction, the director now owns 101 shares in the company, valued at approximately $12,908.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gretchen Zech sold 4,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $126.26, for a total value of $505,040.00. Following the sale, the senior vice president now directly owns 27,925 shares in the company, valued at $3,525,810.50. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Arrow Electronics Stock Down 0.1 %
ARW opened at $128.65 on Tuesday. Arrow Electronics, Inc. has a 1-year low of $89.38 and a 1-year high of $147.42. The stock’s fifty day simple moving average is $137.54 and its 200 day simple moving average is $126.79. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.16 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.
Arrow Electronics (NYSE:ARW – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.33 by $0.04. Arrow Electronics had a return on equity of 22.19% and a net margin of 3.35%. The business had revenue of $8.51 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the prior year, the business earned $5.78 EPS. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts expect that Arrow Electronics, Inc. will post 16.07 earnings per share for the current year.
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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