Connor Clark & Lunn Investment Management Ltd. Buys Shares of 78,810 Arrow Electronics, Inc. (NYSE:ARW)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 78,810 shares of the technology company’s stock, valued at approximately $8,241,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Arrow Electronics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in Arrow Electronics by 31.9% in the fourth quarter. Lindbrook Capital LLC now owns 389 shares of the technology company’s stock valued at $41,000 after buying an additional 94 shares in the last quarter. Huntington National Bank raised its stake in shares of Arrow Electronics by 88.5% during the fourth quarter. Huntington National Bank now owns 411 shares of the technology company’s stock valued at $43,000 after acquiring an additional 193 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics during the first quarter valued at $52,000. EverSource Wealth Advisors LLC raised its stake in shares of Arrow Electronics by 30.9% during the third quarter. EverSource Wealth Advisors LLC now owns 965 shares of the technology company’s stock valued at $88,000 after acquiring an additional 228 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Arrow Electronics during the fourth quarter valued at $101,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Arrow Electronics from $115.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Truist Financial lifted their target price on shares of Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. The Goldman Sachs Group lifted their target price on shares of Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Raymond James lifted their price target on shares of Arrow Electronics from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Finally, StockNews.com raised shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus price target of $126.71.

Arrow Electronics Stock Up 4.4 %

Shares of NYSE ARW opened at $125.98 on Friday. The stock has a market capitalization of $7.12 billion, a P/E ratio of 5.98, a P/E/G ratio of 1.88 and a beta of 1.40. 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 1 year low of $89.38 and a 1 year high of $134.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.62 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $4.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.13. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.61 billion. Arrow Electronics had a net margin of 3.63% and a return on equity of 24.92%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $5.43 earnings per share. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 16.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew Charles Kerin sold 1,419 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Andrew Charles Kerin sold 1,419 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael J. Long sold 3,712 shares of Arrow Electronics stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $120.29, for a total transaction of $446,516.48. Following the completion of the sale, the chairman now directly owns 209,172 shares in the company, valued at approximately $25,161,299.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,429 shares of company stock worth $4,786,856. 1.00% of the stock is owned by insiders.

Arrow Electronics Company Profile

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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.