CoreFirst Bank & Trust Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

CoreFirst Bank & Trust purchased a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 483 shares of the technology company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARW. BOK Financial Private Wealth Inc. purchased a new position in Arrow Electronics in the fourth quarter valued at about $25,000. True Wealth Design LLC purchased a new position in Arrow Electronics in the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in Arrow Electronics during the third quarter worth $40,000. Principal Securities Inc. boosted its position in Arrow Electronics by 35.7% during the fourth 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 grew its holdings in Arrow Electronics by 24.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock valued at $64,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling

In other news, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now owns 2,086 shares in the company, valued at $226,810.78. This trade represents a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Austen bought 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired 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 directly owns 7,858 shares of the company’s stock, 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. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ARW shares. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and an average price target of $121.25.

Arrow Electronics Stock Down 1.1 %

ARW opened at $107.15 on Wednesday. The firm has a market cap of $5.59 billion, a P/E ratio of 14.72, a PEG ratio of 0.52 and a beta of 1.26. The business’s fifty day simple moving average is $110.55 and its 200 day simple moving average is $118.72. Arrow Electronics, Inc. has a 52 week low of $101.78 and a 52 week high of $137.80. 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 released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Arrow Electronics 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.