Connor Clark & Lunn Investment Management Ltd. Makes New $8.24 Million Investment in Arrow Electronics, Inc. (NYSE:ARW)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) during the 4th quarter, Holdings Channel reports. The institutional investor bought 78,810 shares of the technology company’s stock, valued at approximately $8,241,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ARW. Panagora Asset Management Inc. raised its position in shares of Arrow Electronics by 12.3% during the 1st quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock valued at $413,000 after buying an additional 380 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Arrow Electronics during the 1st quarter valued at $273,000. Prudential PLC purchased a new stake in shares of Arrow Electronics during the 1st quarter valued at $302,000. Cetera Investment Advisers purchased a new stake in shares of Arrow Electronics during the 1st quarter valued at $275,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics during the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Arrow Electronics Trading Up 4.4 %

NYSE:ARW opened at $125.98 on Friday. The company has a 50-day moving average price of $118.32 and a 200-day moving average price of $115.06. Arrow Electronics, Inc. has a 12 month low of $89.38 and a 12 month high of $134.56. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 1.88 and a beta of 1.40.

Arrow Electronics (NYSE:ARW – Get Rating) last posted its earnings results on Thursday, May 4th. The technology company reported $4.60 EPS for the quarter, topping the consensus estimate of $4.47 by $0.13. Arrow Electronics had a net margin of 3.63% and a return on equity of 24.92%. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.61 billion. During the same period last year, the company posted $5.43 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that Arrow Electronics, Inc. will post 16.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on ARW shares. Wells Fargo & Company increased their target price on shares of Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Bank of America reduced their target price on shares of Arrow Electronics from $140.00 to $135.00 in a report on Monday, May 8th. StockNews.com raised shares of Arrow Electronics from a “hold” rating to a “buy” rating in a report on Saturday, May 13th. Raymond James raised their price target on shares of Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.71.

Insider Activity at Arrow Electronics

In related news, insider Kristin Diana Russell sold 10,306 shares of Arrow Electronics stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total transaction of $1,213,016.20. Following the completion of the transaction, the insider now directly owns 14,535 shares of the company’s stock, valued at approximately $1,710,769.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Kristin Diana Russell sold 10,306 shares of Arrow Electronics stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $117.70, for a total transaction of $1,213,016.20. Following the completion of the transaction, the insider now directly owns 14,535 shares of the company’s stock, valued at approximately $1,710,769.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew Charles Kerin sold 1,419 shares of Arrow Electronics stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $123.09, for a total transaction of $174,664.71. The disclosure for this sale can be found here. Insiders sold a total of 40,429 shares of company stock valued at $4,786,856 in the last three months. Company insiders own 1.00% of the company’s stock.

About Arrow Electronics

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.