River Wealth Advisors LLC grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,839 shares of the technology company’s stock after purchasing an additional 421 shares during the quarter. Arrow Electronics comprises about 1.3% of River Wealth Advisors LLC’s investment portfolio, making the stock its 21st biggest position. River Wealth Advisors LLC’s holdings in Arrow Electronics were worth $2,993,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ARW. JPMorgan Chase & Co. raised its holdings in shares of Arrow Electronics by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock valued at $423,313,000 after purchasing an additional 370,095 shares in the last quarter. Man Group plc bought a new position in shares of Arrow Electronics during the 3rd quarter valued at $293,000. Morgan Stanley raised its holdings in shares of Arrow Electronics by 13.0% during the 3rd quarter. Morgan Stanley now owns 261,153 shares of the technology company’s stock valued at $19,254,000 after purchasing an additional 29,974 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Arrow Electronics by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock valued at $585,153,000 after purchasing an additional 70,647 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Arrow Electronics by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 9,239 shares of the technology company’s stock valued at $637,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.
In other news, insider Charles Kostalnick II sold 1,250 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $81.99, for a total transaction of $102,487.50. Following the transaction, the insider now owns 15,248 shares in the company, valued at approximately $1,250,183.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Charles Kerin sold 6,845 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $81.79, for a total transaction of $559,852.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,351 shares of company stock worth $8,322,837. Insiders own 1.40% of the company’s stock.
ARW traded up $0.13 during trading on Thursday, hitting $68.99. The stock had a trading volume of 4,501 shares, compared to its average volume of 555,747. The company has a market capitalization of $5.77 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.16. Arrow Electronics, Inc. has a 12 month low of $62.69 and a 12 month high of $86.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.21.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the business earned $1.88 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Arrow Electronics, Inc. will post 8.49 earnings per share for the current year.
ARW has been the topic of a number of recent research reports. Stifel Nicolaus downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price target on the stock. in a report on Friday, February 1st. SunTrust Banks raised their price target on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a report on Friday, February 8th. ValuEngine downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Bank of America downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price target on the stock. in a report on Monday, May 6th. Finally, Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Arrow Electronics currently has an average rating of “Hold” and an average price target of $83.21.
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Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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