Norges Bank Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

Norges Bank acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 4th quarter, Holdings Channel reports. The fund acquired 646,438 shares of the technology company’s stock, valued at approximately $79,027,000.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Arrow Electronics by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after acquiring an additional 409,810 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Arrow Electronics by 67.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock worth $118,527,000 after purchasing an additional 380,383 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after purchasing an additional 349,561 shares during the period. Invesco Ltd. raised its position in shares of Arrow Electronics by 37.8% during the third quarter. Invesco Ltd. now owns 826,096 shares of the technology company’s stock valued at $103,460,000 after buying an additional 226,769 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new position in shares of Arrow Electronics in the fourth quarter worth $18,232,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Truist Financial reduced their target price on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a report on Friday, February 9th.

Arrow Electronics Trading Up 0.8 %

Shares of ARW opened at $131.52 on Monday. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49. The company’s fifty day moving average is $126.63 and its 200 day moving average is $121.15. The stock has a market capitalization of $7.00 billion, a PE ratio of 10.34 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.60 EPS. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.37 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

In related news, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares in the company, valued at $1,410,097.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Charles Kerin sold 1,520 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total value of $200,123.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,371 shares of company stock worth $1,190,352. 1.00% of the stock is currently owned by company insiders.

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.