Inscription Capital LLC bought a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 6,000 shares of the technology company’s stock, valued at approximately $683,000.
A number of other large investors have also modified their holdings of ARW. Northern Trust Corp lifted its stake in Arrow Electronics by 5.8% in the first quarter. Northern Trust Corp now owns 930,073 shares of the technology company’s stock worth $103,070,000 after purchasing an additional 51,068 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Arrow Electronics by 11.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 10,920 shares of the technology company’s stock valued at $1,242,000 after acquiring an additional 1,114 shares during the last quarter. Twin Tree Management LP lifted its stake in shares of Arrow Electronics by 46,612.9% in the 2nd quarter. Twin Tree Management LP now owns 28,962 shares of the technology company’s stock valued at $3,297,000 after acquiring an additional 28,900 shares during the last quarter. SG Americas Securities LLC grew its position in Arrow Electronics by 4.1% during the 2nd quarter. SG Americas Securities LLC now owns 16,459 shares of the technology company’s stock worth $1,874,000 after acquiring an additional 642 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Arrow Electronics by 8.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 840,181 shares of the technology company’s stock worth $93,109,000 after purchasing an additional 65,100 shares during the period. Institutional investors own 93.16% of the company’s stock.
NYSE ARW opened at $114.24 on Thursday. Arrow Electronics, Inc. has a 1 year low of $76.46 and a 1 year high of $124.76. The stock has a market capitalization of $8.20 billion, a PE ratio of 10.24, a PEG ratio of 0.34 and a beta of 1.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.44 and a quick ratio of 1.04. The business’s 50-day moving average is $116.41 and its 200 day moving average is $116.17.
Arrow Electronics declared that its board has authorized a share buyback plan on Thursday, August 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, CFO Christopher Stansbury sold 11,238 shares of the stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $121.43, for a total value of $1,364,630.34. Following the completion of the transaction, the chief financial officer now owns 19,161 shares of the company’s stock, valued at approximately $2,326,720.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 4,119 shares of the company’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $117.47, for a total value of $483,858.93. Following the completion of the sale, the senior vice president now directly owns 11,909 shares in the company, valued at $1,398,950.23. The disclosure for this sale can be found here. Insiders sold a total of 35,929 shares of company stock valued at $4,331,764 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Tuesday, August 10th.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
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