Hancock Whitney Corp lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,940 shares of the technology company’s stock after selling 742 shares during the quarter. Hancock Whitney Corp’s holdings in Arrow Electronics were worth $2,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of ARW. OLD Mission Capital LLC bought a new stake in Arrow Electronics during the third quarter valued at about $1,071,000. Millennium Management LLC boosted its holdings in Arrow Electronics by 83.4% in the second quarter. Millennium Management LLC now owns 28,969 shares of the technology company’s stock worth $3,298,000 after acquiring an additional 13,172 shares in the last quarter. Marshall Wace LLP acquired a new stake in Arrow Electronics in the second quarter worth about $1,189,000. Bank of America Corp DE boosted its holdings in Arrow Electronics by 1.5% in the second quarter. Bank of America Corp DE now owns 700,712 shares of the technology company’s stock worth $79,763,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in Arrow Electronics in the third quarter worth about $31,000. 93.55% of the stock is currently owned by institutional investors.
Shares of NYSE:ARW traded up $0.73 during trading on Friday, reaching $126.70. The stock had a trading volume of 357,332 shares, compared to its average volume of 557,366. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.03 and a current ratio of 1.40. The business has a fifty day moving average price of $123.97 and a 200-day moving average price of $123.02. The stock has a market cap of $8.58 billion, a PE ratio of 8.31, a PEG ratio of 2.21 and a beta of 1.48. Arrow Electronics, Inc. has a 1-year low of $105.54 and a 1-year high of $137.95.
Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings results on Thursday, February 3rd. The technology company reported $5.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.42 by $0.95. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.92 billion. Arrow Electronics had a return on equity of 21.65% and a net margin of 3.21%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 earnings per share. Sell-side analysts expect that Arrow Electronics, Inc. will post 18.48 earnings per share for the current year.
Arrow Electronics announced that its board has approved a share buyback plan on Friday, December 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have weighed in on the company. Truist Financial raised their price target on Arrow Electronics from $132.00 to $143.00 and gave the stock a “hold” rating in a report on Friday, February 4th. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “strong-buy” rating and set a $146.00 price target for the company in a report on Tuesday, February 8th. Finally, Raymond James raised Arrow Electronics from a “market perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Wednesday, February 2nd.
In other Arrow Electronics news, CFO Christopher Stansbury sold 52,993 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $121.60, for a total transaction of $6,443,948.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Vincent P. Melvin sold 20,477 shares of the business’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $122.14, for a total value of $2,501,060.78. The disclosure for this sale can be found here. Insiders sold 98,580 shares of company stock worth $12,053,449 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Arrow Electronics Profile (Get Rating)
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment is involved in the marketing and distribution of electronic components and provides a range of value-added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
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