KLP Kapitalforvaltning AS Takes Position in Arrow Electronics, Inc. (NYSE:ARW)

KLP Kapitalforvaltning AS bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 13,700 shares of the technology company’s stock, valued at approximately $1,550,000.

A number of other hedge funds have also made changes to their positions in ARW. Boston Partners grew its stake in shares of Arrow Electronics by 14.8% in the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after buying an additional 318,329 shares in the last quarter. Greenhaven Associates Inc. boosted its holdings in Arrow Electronics by 1.1% in the 4th quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock worth $215,477,000 after acquiring an additional 20,484 shares during the period. State Street Corp grew its position in Arrow Electronics by 0.3% in the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock valued at $224,442,000 after acquiring an additional 4,811 shares in the last quarter. Sei Investments Co. raised its stake in shares of Arrow Electronics by 6.3% during the fourth quarter. Sei Investments Co. now owns 770,975 shares of the technology company’s stock valued at $87,214,000 after purchasing an additional 45,593 shares during the period. Finally, Lind Value II ApS boosted its stake in shares of Arrow Electronics by 36.3% in the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after purchasing an additional 172,669 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, Director William F. Austen acquired 1,900 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $104.12 per share, with a total value of $197,828.00. Following the completion of the acquisition, the director now directly owns 7,858 shares in the company, valued at $818,174.96. This trade represents a 31.89 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Yun Sung Cho sold 237 shares of the 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 directly 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Arrow Electronics Trading Down 1.7 %

ARW opened at $103.55 on Friday. The stock has a market capitalization of $5.40 billion, a PE ratio of 14.22, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics, Inc. has a 12-month low of $101.78 and a 12-month high of $137.80. The firm’s fifty day moving average price is $109.95 and its 200 day moving average price is $118.39.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 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, research analysts expect that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

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.