Koshinski Asset Management Inc. Buys New Position in Arrow Electronics, Inc. (NYSE:ARW)


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Koshinski Asset Management Inc. acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 4th quarter, Holdings Channel reports. The firm acquired 29,962 shares of the technology company’s stock, valued at approximately $2,080,000.

Other hedge funds have also bought and sold shares of the company. Twinbeech Capital LP purchased a new stake in Arrow Electronics during the 3rd quarter worth approximately $252,000. Citigroup Inc. increased its holdings in Arrow Electronics by 50.6% during the 4th quarter. Citigroup Inc. now owns 87,368 shares of the technology company’s stock worth $8,502,000 after purchasing an additional 29,366 shares during the last quarter. Jane Street Group LLC increased its holdings in Arrow Electronics by 32.6% during the 4th quarter. Jane Street Group LLC now owns 12,568 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 3,091 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Arrow Electronics by 34.5% during the 4th quarter. State of Alaska Department of Revenue now owns 17,809 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 4,568 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Arrow Electronics by 91.6% during the 4th quarter. Federated Hermes Inc. now owns 50,591 shares of the technology company’s stock worth $4,923,000 after purchasing an additional 24,181 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

Shares of ARW opened at $113.80 on Thursday. Arrow Electronics, Inc. has a 52 week low of $50.47 and a 52 week high of $115.31. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.17 and a beta of 1.55. The company has a current ratio of 1.47, a quick ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $105.92 and a 200-day moving average of $95.65.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Wednesday, February 3rd. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.50. Arrow Electronics had a return on equity of 11.49% and a net margin of 1.67%. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 7.26 earnings per share for the current fiscal year.

In related news, SVP Gretchen Zech sold 44,092 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $104.76, for a total transaction of $4,619,077.92. Also, CEO Michael J. Long sold 3,089 shares of the business’s stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of $98.03, for a total value of $302,814.67. Following the transaction, the chief executive officer now owns 181,671 shares of the company’s stock, valued at approximately $17,809,208.13. The disclosure for this sale can be found here. Insiders have sold a total of 260,096 shares of company stock valued at $27,040,958 in the last 90 days. Insiders own 1.60% of the company’s stock.

ARW has been the topic of several analyst reports. The Goldman Sachs Group lifted their price objective on Arrow Electronics from $81.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, December 14th. Citigroup lifted their target price on Arrow Electronics from $85.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.89.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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