Andra AP fonden purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 88,500 shares of the technology company’s stock, valued at approximately $6,820,000.

A number of other institutional investors have also recently added to or reduced their stakes in ARW. Oppenheimer Asset Management Inc. increased its stake in Arrow Electronics by 4.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,350 shares of the technology company’s stock valued at $258,000 after purchasing an additional 137 shares in the last quarter. Synovus Financial Corp lifted its holdings in Arrow Electronics by 3.8% during the first quarter. Synovus Financial Corp now owns 4,703 shares of the technology company’s stock valued at $363,000 after purchasing an additional 171 shares during the last quarter. Twin Capital Management Inc. increased its position in shares of Arrow Electronics by 0.4% during the first quarter. Twin Capital Management Inc. now owns 52,100 shares of the technology company’s stock valued at $4,015,000 after buying an additional 220 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Arrow Electronics by 2.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 9,561 shares of the technology company’s stock valued at $737,000 after buying an additional 231 shares during the period. Finally, Signaturefd LLC increased its position in shares of Arrow Electronics by 22.0% during the first quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $100,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 93.08% of the company’s stock.

NYSE:ARW opened at $68.44 on Thursday. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 2.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74. Arrow Electronics, Inc. has a 1 year low of $62.35 and a 1 year high of $86.62.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. Arrow Electronics’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts expect that Arrow Electronics, Inc. will post 8.49 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Zacks Investment Research lowered Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Bank of America downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective for the company. in a report on Monday, May 6th. ValuEngine downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Deutsche Bank initiated coverage on Arrow Electronics in a report on Tuesday. They set a “buy” rating and a $83.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Arrow Electronics currently has a consensus rating of “Hold” and a consensus price target of $81.07.

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Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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