West Tower Group LLC Acquires New Stake in Arrow Electronics, Inc. (NYSE:ARW)

West Tower Group LLC acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the technology company’s stock, valued at approximately $226,000.

Several other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares in the last quarter. Franklin Resources Inc. raised its position in Arrow Electronics by 1,072.6% during the third quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock valued at $5,564,000 after purchasing an additional 37,746 shares in the last quarter. Cerity Partners LLC raised its position in Arrow Electronics by 140.4% during the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock valued at $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Lind Value II ApS raised its position in Arrow Electronics by 36.3% during the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Arrow Electronics by 115.0% during the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock valued at $41,948,000 after purchasing an additional 168,904 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Up 1.6 %

ARW opened at $107.36 on Wednesday. The company has a market cap of $5.60 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.52 and a beta of 1.26. The business’s 50-day moving average price is $111.05 and its 200-day moving average price is $119.52. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Arrow Electronics, Inc. has a 12 month low of $101.78 and a 12 month high of $137.80.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, equities analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARW. Wells Fargo & Company lowered their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a report 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 given a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and an average target price of $121.25.

Insider Activity at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. The trade was a 10.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Austen purchased 1,900 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares in the company, valued at $818,174.96. This trade represents a 31.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

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.