Merit Financial Group LLC Buys New Position in Arrow Electronics, Inc. (NYSE:ARW)

Merit Financial Group LLC purchased a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 2,776 shares of the technology company’s stock, valued at approximately $288,000.

A number of other hedge funds have also recently bought and sold shares of ARW. Choreo LLC bought a new position in shares of Arrow Electronics during the 4th quarter worth approximately $422,000. Empowered Funds LLC raised its holdings in Arrow Electronics by 5.6% in the 4th quarter. Empowered Funds LLC now owns 28,926 shares of the technology company’s stock valued at $3,272,000 after acquiring an additional 1,529 shares in the last quarter. Quent Capital LLC raised its holdings in Arrow Electronics by 45.1% in the 4th quarter. Quent Capital LLC now owns 1,246 shares of the technology company’s stock valued at $141,000 after acquiring an additional 387 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Arrow Electronics by 14.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,343 shares of the technology company’s stock worth $929,000 after buying an additional 1,030 shares in the last quarter. Finally, Two Point Capital Management Inc. raised its holdings in shares of Arrow Electronics by 2.3% during the 4th quarter. Two Point Capital Management Inc. now owns 22,428 shares of the technology company’s stock worth $2,675,000 after buying an additional 509 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America upped their target price on Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Monday.

Insiders Place Their Bets

In other news, insider Eric Nowak sold 4,952 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the completion of the sale, the insider now owns 43,895 shares of the company’s stock, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gail Hamilton sold 1,458 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $178,444.62. Following the transaction, the director now owns 101 shares in the company, valued at approximately $12,361.39. This represents a 93.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Arrow Electronics Trading Down 0.5%

NYSE:ARW opened at $124.47 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $112.67 and its 200 day moving average is $112.40. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80. The stock has a market capitalization of $6.46 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.33. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.41 earnings per share. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

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.