KLP Kapitalforvaltning AS Acquires Shares of 13,700 Arrow Electronics, Inc. (NYSE:ARW)

KLP Kapitalforvaltning AS acquired a new position in Arrow Electronics, Inc. (NYSE:ARW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,700 shares of the technology company’s stock, valued at approximately $1,550,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Arrow Electronics by 371.1% in the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company’s stock valued at $57,768,000 after purchasing an additional 342,590 shares in the last quarter. Boston Partners increased its holdings in Arrow Electronics by 14.8% in the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after buying an additional 318,329 shares in the last quarter. Lind Value II ApS lifted its position in shares of Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after acquiring an additional 172,669 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after acquiring an additional 168,904 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock worth $19,859,000 after acquiring an additional 102,854 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

Arrow Electronics stock opened at $103.55 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. Arrow Electronics, Inc. has a fifty-two week low of $101.78 and a fifty-two week high of $137.80. The stock has a fifty day moving average of $109.95 and a two-hundred day moving average of $118.39. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on ARW shares. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Arrow Electronics has a consensus rating of “Hold” and an average target price of $121.25.

Insider Activity

In other Arrow Electronics news, Director William F. Austen purchased 1,900 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. The trade was a 31.89 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Yun Sung Cho sold 353 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the transaction, the chief accounting officer now directly owns 1,549 shares in the company, valued at approximately $173,658.39. This represents a 18.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Arrow Electronics Company 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.