Mach 1 Financial Group LLC Acquires Shares of 1,949 Arrow Electronics, Inc. (NYSE:ARW)

Mach 1 Financial Group LLC bought a new position in Arrow Electronics, Inc. (NYSE:ARW) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,949 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Arrow Electronics by 35.8% during the 4th quarter. Van ECK Associates Corp now owns 14,339 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 3,783 shares during the period. Russell Investments Group Ltd. raised its holdings in Arrow Electronics by 32.0% in the 4th quarter. Russell Investments Group Ltd. now owns 90,053 shares of the technology company’s stock worth $11,010,000 after purchasing an additional 21,827 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of Arrow Electronics in the 4th quarter worth about $3,668,000. Two Point Capital Management Inc. lifted its position in shares of Arrow Electronics by 8.2% in the 4th quarter. Two Point Capital Management Inc. now owns 21,269 shares of the technology company’s stock worth $2,600,000 after purchasing an additional 1,607 shares during the period. Finally, Alaska Permanent Fund Corp increased its position in shares of Arrow Electronics by 3.6% during the fourth quarter. Alaska Permanent Fund Corp now owns 18,033 shares of the technology company’s stock valued at $2,205,000 after buying an additional 633 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $124.77 on Thursday. The company has a 50 day simple moving average of $123.41 and a two-hundred day simple moving average of $119.48. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 7.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 earnings per share 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 company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the company earned $5.69 EPS. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. Analysts expect that Arrow Electronics, Inc. will post 11.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock worth $488,795 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their target price on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research note on Friday, February 9th.

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.