Raymond James Financial Services Advisors Inc. Grows Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Raymond James Financial Services Advisors Inc. increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,466 shares of the technology company’s stock after purchasing an additional 164 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Arrow Electronics were worth $301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC purchased a new position in Arrow Electronics in the third quarter valued at about $261,000. IFP Advisors Inc boosted its stake in Arrow Electronics by 33.0% in the third quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC purchased a new position in Arrow Electronics in the third quarter valued at about $202,000. SG Americas Securities LLC boosted its stake in Arrow Electronics by 199.6% in the third quarter. SG Americas Securities LLC now owns 10,100 shares of the technology company’s stock valued at $1,265,000 after acquiring an additional 6,729 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Arrow Electronics by 10.3% in the third quarter. CreativeOne Wealth LLC now owns 2,030 shares of the technology company’s stock valued at $254,000 after acquiring an additional 189 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

NYSE ARW opened at $123.37 on Tuesday. The company’s 50 day moving average is $121.47 and its 200-day moving average is $119.04. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.66 billion, a P/E ratio of 7.81 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the previous year, the firm posted $5.69 earnings per share. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. Sell-side analysts predict that Arrow Electronics, Inc. will post 11.53 earnings per share for the current year.

Insider Activity

In related news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock valued at $488,795 over the last quarter. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

Arrow Electronics Profile

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.