Mitsubishi UFJ Trust & Banking Corp Buys 17,730 Shares of Arrow Electronics, Inc. $ARW

Mitsubishi UFJ Trust & Banking Corp increased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 37.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,462 shares of the technology company’s stock after purchasing an additional 17,730 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.13% of Arrow Electronics worth $7,800,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new stake in shares of Arrow Electronics in the third quarter worth $26,000. Farther Finance Advisors LLC boosted its position in Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock worth $28,000 after purchasing an additional 101 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Arrow Electronics by 660.0% during the 2nd quarter. True Wealth Design LLC now owns 266 shares of the technology company’s stock valued at $34,000 after purchasing an additional 231 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Arrow Electronics by 1,547.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 280 shares of the technology company’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Arrow Electronics by 68.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company’s stock valued at $37,000 after purchasing an additional 143 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ARW shares. Wells Fargo & Company dropped their price objective on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Arrow Electronics in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research lowered Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Arrow Electronics presently has a consensus rating of “Reduce” and a consensus price target of $102.00.

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $128.22 on Thursday. The company has a market capitalization of $6.60 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.95 and a beta of 1.03. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $134.74. The firm’s 50 day simple moving average is $113.14 and its two-hundred day simple moving average is $118.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.13. Arrow Electronics had a net margin of 1.62% and a return on equity of 8.19%. The firm had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the prior year, the company posted $2.38 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

About Arrow Electronics

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.