Fisher Funds Management LTD Buys Shares of 66,064 Arrow Electronics, Inc. (NYSE:ARW)

Fisher Funds Management LTD purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 66,064 shares of the technology company’s stock, valued at approximately $7,455,000.

Several other institutional investors have also modified their holdings of the company. Meixler Investment Management Ltd. increased its stake in Arrow Electronics by 2.6% in the 4th quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company’s stock valued at $387,000 after purchasing an additional 88 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after purchasing an additional 108 shares during the last quarter. Creative Planning increased its position in shares of Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after buying an additional 123 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Arrow Electronics by 35.7% during the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after buying an additional 126 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Arrow Electronics by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insider Activity

In related news, CAO Yun Sung Cho sold 237 shares of the stock in a transaction dated 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 owns 2,086 shares of the company’s stock, valued at approximately $226,810.78. This represents a 10.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ARW has been the topic of a number of research reports. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Raymond James lowered their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial reduced their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company dropped 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Arrow Electronics currently has a consensus rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Trading Down 0.6 %

NYSE:ARW opened at $111.52 on Friday. The business’s 50-day moving average is $113.71 and its two-hundred day moving average is $122.38. The firm has a market capitalization of $5.82 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 0.53 and a beta of 1.26. Arrow Electronics, Inc. has a 12 month low of $105.00 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08.

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

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.