River Road Asset Management LLC Invests $18.23 Million in Arrow Electronics, Inc. (NYSE:ARW)

River Road Asset Management LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 149,137 shares of the technology company’s stock, valued at approximately $18,232,000. River Road Asset Management LLC owned approximately 0.28% of Arrow Electronics at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ARW. Panagora Asset Management Inc. lifted its holdings in shares of Arrow Electronics by 12.3% during the first quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock valued at $413,000 after purchasing an additional 380 shares during the last quarter. Blair William & Co. IL bought a new stake in Arrow Electronics in the first quarter worth $273,000. Prudential PLC purchased a new stake in shares of Arrow Electronics in the first quarter worth $302,000. Cetera Investment Advisers bought a new position in shares of Arrow Electronics during the first quarter valued at $275,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Arrow Electronics in the 1st quarter worth about $52,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

ARW stock opened at $121.95 on Thursday. The stock’s 50 day simple moving average is $120.89 and its 200 day simple moving average is $119.08. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $147.42. The stock has a market capitalization of $6.58 billion, a PE ratio of 7.72 and a beta of 1.41.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the company posted $5.69 earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, research analysts forecast that Arrow Electronics, Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders sold 4,134 shares of company stock worth $488,795 over the last three months. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Truist Financial cut their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research report on Friday, February 9th.

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.