Arrow Electronics, Inc. (NYSE:ARW) recently announced that &Moloney Securities Asset Management LLC has purchased a new position in the company during the first quarter of this year. According to its most recent 13F filing with the Securities and Exchange Commission, the fund bought 5,358 shares of Arrow Electronics’ stock, which have an approximate value of $669,000.
Arrow Electronics, Inc. is a technology company that provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions across various regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through two primary segments: Global Components and Global Enterprise Computing Solutions.
In terms of financial performance, Arrow Electronics recently released its earnings results for the quarter ending on August 3rd. The company reported earnings per share (EPS) of $4.37 for the quarter, surpassing the consensus estimate of $4.33 by $0.04. Additionally, Arrow Electronics achieved a return on equity (ROE) of 22.19% and a net margin of 3.35%. The company’s revenue for the quarter reached $8.51 billion as opposed to analyst estimates of $8.73 billion.
It is worth noting that comparing to the same quarter last year, Arrow Electronics experienced a decline in revenue by 10%. However, as a collective group, sell-side analysts have predicted that Arrow Electronics will post an EPS of 16.07 for this current year.
This recent purchase by &Moloney Securities Asset Management LLC indicates potential confidence in Arrow Electronics’ future prospects among investors within the financial industry. With its diverse range of products and services catered towards industrial and commercial users around the globe, it is clear that Arrow Electronics holds a significant place within this market.
As we move forward into Q4 2023 and beyond, it will be interesting to monitor Arrow Electronics’ financial performance and see how the company navigates through the ever-evolving technology landscape.
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Arrow Electronics Attracts Institutional Investors and Hedge Funds
Arrow Electronics, Inc. (NYSE: ARW) has been attracting the attention of hedge funds and institutional investors, leading to significant changes in its stock holdings. In the first quarter, both Desjardins Global Asset Management Inc. and Machina Capital S.A.S. acquired new stakes in Arrow Electronics, investing $25,000 each. Huntington National Bank also increased its position in the company by 88.5% during the fourth quarter, now owning 411 shares worth $43,000. Similarly, Brown Brothers Harriman & Co. entered the market with a new stake worth $52,000 in the first quarter.
The latest institutional player to boost their position in Arrow Electronics is Steward Partners Investment Advisory LLC, increasing their ownership by 34.1% during the fourth quarter and now holding 837 shares totaling $88,000.
It is interesting to note that a whopping 94.79% of the company’s stock is currently owned by institutional investors and hedge funds.
Trading activity on Friday saw NYSE ARW close at $134.20 after rising $0.77 during the session; this came as 19,609 shares changed hands compared to an average volume of 455,744 shares for the stock.
Arrow Electronics has witnessed impressive growth over the past year, hitting a low of $89.38 and reaching a high of $147.42 during this period. The stock’s fifty-day simple moving average stands at $136.46 while its two hundred-day simple moving average rests at $126.92.
With a market capitalization of $7.47 billion and a P/E ratio of 6.79, Arrow Electronics boasts solid fundamentals despite recent fluctuations in price levels due to market dynamics.
Several research firms have provided insights into ARW’s performance lately as well. Most notably, Bank of America reduced their price target for Arrow Electronics from $155 to $148 recently in a research report. StockNews.com initiated coverage of the company with a “hold” rating, while Truist Financial raised their price target for the stock from $131 to $138 and maintained a “hold” rating.
In summary, Arrow Electronics has garnered significant interest from institutional investors and hedge funds, leading to changes in stock holdings. As the company continues to navigate market conditions, it is advisable for potential investors to closely monitor developments and seek expert advice before making any investment decisions.
