Voloridge Investment Management LLC Has $40.05 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)

Voloridge Investment Management LLC raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 354,007 shares of the technology company’s stock after acquiring an additional 61,280 shares during the quarter. Voloridge Investment Management LLC’s holdings in Arrow Electronics were worth $40,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ARW. BOK Financial Private Wealth Inc. acquired a new position in Arrow Electronics during the 4th quarter worth approximately $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Arrow Electronics during the fourth quarter worth $31,000. New Age Alpha Advisors LLC acquired a new position in shares of Arrow Electronics during the fourth quarter worth $47,000. Principal Securities Inc. lifted its stake in shares of Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after acquiring an additional 126 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Arrow Electronics during the 4th quarter valued at $55,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arrow Electronics

In other news, insider Eric Nowak sold 4,952 shares of the stock in a transaction that occurred on 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 directly owns 43,895 shares of the company’s stock, valued at $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the transaction, the chief accounting officer now directly owns 1,549 shares in the company, valued at $173,658.39. This represents a 18.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,763 shares of company stock valued at $824,095. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Two equities research 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, the stock has a consensus rating of “Hold” and an average price target of $121.25.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $120.62 on Wednesday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.52 and a beta of 1.10. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The company’s fifty day moving average is $107.61 and its 200 day moving average is $112.08. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. The firm had revenue of $6.81 billion for 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 business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.41 EPS. Sell-side analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current 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.