Arrow Electronics (NYSE:ARW) Hits New 1-Year High at $115.31


Share on StockTwits

Arrow Electronics, Inc. (NYSE:ARW) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $115.31 and last traded at $114.76, with a volume of 501151 shares traded. The stock had previously closed at $114.60.

A number of brokerages recently issued reports on ARW. The Goldman Sachs Group increased their target price on Arrow Electronics from $81.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, December 14th. Citigroup increased their target price on Arrow Electronics from $85.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, February 5th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $79.89.

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.06 and a current ratio of 1.47. The firm has a 50 day simple moving average of $105.92 and a two-hundred day simple moving average of $95.65. The firm has a market capitalization of $8.49 billion, a P/E ratio of 19.69, a PEG ratio of 1.17 and a beta of 1.55.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Wednesday, February 3rd. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.50. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Arrow Electronics had a return on equity of 11.49% and a net margin of 1.67%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 7.26 earnings per share for the current year.

In other news, insider David Alan West sold 11,326 shares of Arrow Electronics stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $102.58, for a total transaction of $1,161,821.08. Following the sale, the insider now directly owns 12,347 shares in the company, valued at approximately $1,266,555.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Long sold 3,089 shares of Arrow Electronics stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $98.03, for a total value of $302,814.67. Following the completion of the sale, the chief executive officer now directly owns 181,671 shares of the company’s stock, valued at approximately $17,809,208.13. The disclosure for this sale can be found here. Insiders have sold a total of 260,096 shares of company stock worth $27,040,958 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Twinbeech Capital LP purchased a new stake in Arrow Electronics in the 3rd quarter worth about $252,000. Citigroup Inc. increased its holdings in Arrow Electronics by 50.6% in the 4th quarter. Citigroup Inc. now owns 87,368 shares of the technology company’s stock worth $8,502,000 after acquiring an additional 29,366 shares during the last quarter. Jane Street Group LLC increased its holdings in Arrow Electronics by 32.6% in the 4th quarter. Jane Street Group LLC now owns 12,568 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 3,091 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Arrow Electronics by 34.5% during the 4th quarter. State of Alaska Department of Revenue now owns 17,809 shares of the technology company’s stock valued at $1,732,000 after buying an additional 4,568 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Arrow Electronics by 91.6% during the 4th quarter. Federated Hermes Inc. now owns 50,591 shares of the technology company’s stock valued at $4,923,000 after buying an additional 24,181 shares in the last quarter. 94.54% of the stock is owned by institutional investors.

Arrow Electronics Company Profile (NYSE:ARW)

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.

Recommended Story: The limitations of an equal weight rating

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.