Clear Harbor Asset Management LLC Purchases 149 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Clear Harbor Asset Management LLC boosted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,352 shares of the technology company’s stock after acquiring an additional 149 shares during the period. Clear Harbor Asset Management LLC’s holdings in Arrow Electronics were worth $405,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Arrow Electronics by 19.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,101 shares of the technology company’s stock valued at $616,000 after acquiring an additional 831 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Arrow Electronics by 184.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,700 shares of the technology company’s stock worth $688,000 after purchasing an additional 3,694 shares during the last quarter. Greenhaven Associates Inc. raised its position in shares of Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after purchasing an additional 32,052 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Arrow Electronics in the 2nd quarter worth about $938,000. Finally, QRG Capital Management Inc. raised its position in Arrow Electronics by 12.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,976 shares of the technology company’s stock worth $842,000 after buying an additional 753 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Insider Buying and Selling

In other news, Director Andrew Charles Kerin sold 1,520 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $131.66, for a total value of $200,123.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the sale, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction dated 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. 1.00% of the stock is currently owned by company insiders.

Arrow Electronics Stock Down 0.4 %

NYSE ARW traded down $0.49 during trading on Friday, hitting $129.36. The company’s stock had a trading volume of 111,236 shares, compared to its average volume of 495,557. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The company has a market cap of $6.89 billion, a PE ratio of 10.19 and a beta of 1.27. The business’s 50 day simple moving average is $124.58 and its 200-day simple moving average is $123.55. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $135.31.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period last year, the business posted $4.37 earnings per share. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Arrow Electronics, Inc. will post 10.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARW. Wells Fargo & Company boosted their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Raymond James upped their price target on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $130.75.

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.