LS Investment Advisors LLC trimmed its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,917 shares of the technology company’s stock after selling 219 shares during the period. LS Investment Advisors LLC’s holdings in Arrow Electronics were worth $441,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ARW. DNB Asset Management AS lifted its holdings in shares of Arrow Electronics by 18.0% during the second quarter. DNB Asset Management AS now owns 880,815 shares of the technology company’s stock valued at $62,776,000 after purchasing an additional 134,600 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Arrow Electronics by 5.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 42,420 shares of the technology company’s stock worth $3,023,000 after acquiring an additional 2,100 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Arrow Electronics by 6.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 76,190 shares of the technology company’s stock worth $5,430,000 after acquiring an additional 4,310 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Arrow Electronics by 3.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,243 shares of the technology company’s stock worth $374,000 after acquiring an additional 182 shares in the last quarter. Finally, CenturyLink Investment Management Co purchased a new stake in Arrow Electronics in the 2nd quarter worth about $1,186,000. 94.23% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Christopher Stansbury sold 57,550 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the completion of the sale, the chief financial officer now directly owns 32,481 shares of the company’s stock, valued at approximately $2,236,966.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Kostalnick II sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $68.11, for a total value of $217,952.00. Following the sale, the insider now directly owns 8,214 shares of the company’s stock, valued at $559,455.54. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
ARW opened at $82.04 on Thursday. Arrow Electronics, Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $86.62. The business has a 50-day moving average of $75.78 and a 200-day moving average of $71.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.13. The company has a market capitalization of $6.81 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 11.05 and a beta of 1.37.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.19. Arrow Electronics had a positive return on equity of 13.21% and a negative net margin of 0.29%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same period last year, the business earned $2.15 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect that Arrow Electronics, Inc. will post 7.45 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on ARW shares. Raymond James reissued a “buy” rating and issued a $87.00 price objective (up from $80.00) on shares of Arrow Electronics in a research note on Friday, November 1st. Citigroup increased their price objective on Arrow Electronics from $68.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. SunTrust Banks increased their price objective on Arrow Electronics from $70.00 to $84.00 and gave the stock a “hold” rating in a research note on Monday. TheStreet downgraded Arrow Electronics from a “b-” rating to a “c” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus set a $75.00 price objective on Arrow Electronics and gave the stock a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.86.
Arrow Electronics 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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