Harbor Capital Advisors Inc. Has $2.43 Million Position in Arrow Electronics, Inc. (NYSE:ARW)

Harbor Capital Advisors Inc. increased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 28.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,407 shares of the technology company’s stock after purchasing an additional 5,242 shares during the period. Harbor Capital Advisors Inc.’s holdings in Arrow Electronics were worth $2,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ARW. FMR LLC lifted its stake in Arrow Electronics by 208.8% in the fourth quarter. FMR LLC now owns 1,343,090 shares of the technology company’s stock valued at $151,930,000 after buying an additional 908,185 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Arrow Electronics by 163.7% during the fourth quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company’s stock worth $133,089,000 after acquiring an additional 730,408 shares during the period. Fiduciary Management Inc. WI lifted its position in Arrow Electronics by 44.1% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company’s stock valued at $175,214,000 after acquiring an additional 473,909 shares in the last quarter. Boston Partners boosted its stake in Arrow Electronics by 14.8% in the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock worth $280,138,000 after purchasing an additional 318,329 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Arrow Electronics by 31,181.6% in the 1st quarter. GAMMA Investing LLC now owns 269,647 shares of the technology company’s stock worth $279,970,000 after purchasing an additional 268,785 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

NYSE ARW opened at $124.47 on Thursday. The firm’s 50 day moving average is $112.67 and its 200-day moving average is $112.40. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.46 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same period in the previous year, the business earned $2.41 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America boosted their price target on Arrow Electronics from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Monday.

Insider Transactions at Arrow Electronics

In other news, Director Gail Hamilton sold 1,458 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $178,444.62. Following the transaction, the director now directly owns 101 shares in the company, valued at $12,361.39. The trade was a 93.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Nowak sold 4,952 shares of Arrow Electronics stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the transaction, the insider now owns 43,895 shares of the company’s stock, valued at $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.