Raymond James Financial Inc. Takes Position in Arrow Electronics, Inc. (NYSE:ARW)

Raymond James Financial Inc. purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 45,415 shares of the technology company’s stock, valued at approximately $5,137,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Greenhaven Associates Inc. grew its stake in shares of Arrow Electronics by 1.1% during the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after purchasing an additional 20,484 shares during the last quarter. State Street Corp lifted its holdings in Arrow Electronics by 0.3% during the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after buying an additional 4,811 shares in the last quarter. Lind Value II ApS boosted its position in Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after buying an additional 172,669 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Arrow Electronics by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company’s stock worth $56,436,000 after acquiring an additional 14,971 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Arrow Electronics by 371.1% during the third quarter. FMR LLC now owns 434,905 shares of the technology company’s stock valued at $57,768,000 after acquiring an additional 342,590 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Arrow Electronics Stock Down 1.1 %

Shares of Arrow Electronics stock opened at $107.15 on Wednesday. Arrow Electronics, Inc. has a 12 month low of $101.78 and a 12 month high of $137.80. The business has a fifty day simple moving average of $110.55 and a 200 day simple moving average of $118.72. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.59 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, topping 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%. Research analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insider Activity

In related news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total value of $25,769.01. Following the completion of the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. The trade was a 10.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Austen bought 1,900 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the acquisition, the director now directly owns 7,858 shares in the company, 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 company 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.