Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in Arrow Electronics, Inc. $ARW

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 37.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 64,462 shares of the technology company’s stock after acquiring an additional 17,730 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Arrow Electronics were worth $7,800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Creative Planning grew its position in Arrow Electronics by 77.0% in the second quarter. Creative Planning now owns 15,080 shares of the technology company’s stock worth $1,922,000 after acquiring an additional 6,558 shares in the last quarter. ACR Alpine Capital Research LLC lifted its stake in shares of Arrow Electronics by 12.1% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 2,416,815 shares of the technology company’s stock valued at $292,435,000 after purchasing an additional 260,442 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Arrow Electronics by 19.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 41,195 shares of the technology company’s stock worth $4,984,000 after purchasing an additional 6,808 shares during the period. Bayforest Capital Ltd increased its position in shares of Arrow Electronics by 653.1% during the 2nd quarter. Bayforest Capital Ltd now owns 6,650 shares of the technology company’s stock valued at $847,000 after purchasing an additional 5,767 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Arrow Electronics by 278.4% during the 2nd quarter. XTX Topco Ltd now owns 11,690 shares of the technology company’s stock valued at $1,490,000 after buying an additional 8,601 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Up 5.9%

Shares of ARW opened at $128.22 on Thursday. The firm has a fifty day moving average price of $113.14 and a 200-day moving average price of $118.48. The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.60 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.95 and a beta of 1.03. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $134.74.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.13. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. Arrow Electronics had a net margin of 1.62% and a return on equity of 8.19%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. Equities research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Arrow Electronics in a report on Wednesday, October 8th. Zacks Research downgraded shares of Arrow Electronics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $102.00.

Arrow Electronics Profile

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.