Commonwealth Equity Services LLC Has $824,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Commonwealth Equity Services LLC boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,286 shares of the technology company’s stock after buying an additional 190 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Arrow Electronics were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vestcor Inc raised its stake in shares of Arrow Electronics by 30.7% during the fourth quarter. Vestcor Inc now owns 4,863 shares of the technology company’s stock valued at $550,000 after acquiring an additional 1,143 shares during the last quarter. HighTower Advisors LLC increased its holdings in Arrow Electronics by 2.6% in the fourth quarter. HighTower Advisors LLC now owns 18,975 shares of the technology company’s stock valued at $2,146,000 after purchasing an additional 474 shares during the period. Wealthfront Advisers LLC bought a new position in Arrow Electronics during the 4th quarter worth $1,758,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arrow Electronics by 17.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,654 shares of the technology company’s stock worth $1,431,000 after buying an additional 1,862 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new position in Arrow Electronics during the 4th quarter worth about $25,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company decreased their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Stock Performance

ARW stock opened at $105.08 on Thursday. The firm has a market cap of $5.45 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $109.09 and a 200-day moving average price of $117.93. Arrow Electronics, Inc. has a 1-year low of $101.78 and a 1-year high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. This represents a 18.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Austen acquired 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, with a total value of $197,828.00. Following the purchase, the director now directly owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This trade represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

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.