West Tower Group LLC Acquires Shares of 2,000 Arrow Electronics, Inc. (NYSE:ARW)

West Tower Group LLC acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,000 shares of the technology company’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently made changes to their positions in ARW. BOK Financial Private Wealth Inc. bought a new stake in shares of Arrow Electronics in the 4th quarter worth approximately $25,000. True Wealth Design LLC bought a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $31,000. Brooklyn Investment Group bought a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $40,000. Principal Securities Inc. boosted its position in shares of Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Arrow Electronics by 24.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock worth $64,000 after purchasing an additional 112 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $107.36 on Wednesday. Arrow Electronics, Inc. has a twelve month low of $101.78 and a twelve month high of $137.80. The firm has a market cap of $5.60 billion, a P/E ratio of 14.75, a PEG ratio of 0.52 and a beta of 1.26. The company has a 50 day moving average of $111.05 and a 200 day moving average of $119.52. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Arrow Electronics currently has a consensus rating of “Hold” and a consensus target price of $121.25.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the sale, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. The trade was a 10.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William F. Austen bought 1,900 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $104.12 per share, with a total value of $197,828.00. Following the completion of the purchase, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. The trade was a 31.89 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

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.