Psagot Investment House Ltd. lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 0.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,405 shares of the technology company’s stock after selling 195 shares during the quarter. Psagot Investment House Ltd.’s holdings in Arrow Electronics were worth $2,035,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARW. JPMorgan Chase & Co. grew its holdings in shares of Arrow Electronics by 6.9% in the third 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 during the period. Man Group plc purchased a new stake in shares of Arrow Electronics in the third quarter valued at about $293,000. Macquarie Group Ltd. grew its holdings in shares of Arrow Electronics by 43.9% in the third quarter. Macquarie Group Ltd. now owns 22,300 shares of the technology company’s stock valued at $1,645,000 after purchasing an additional 6,800 shares during the period. Morgan Stanley grew its holdings in shares of Arrow Electronics by 13.0% in the third 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 during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Arrow Electronics by 0.9% in the third 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 during the period. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ARW traded down $1.75 during mid-day trading on Wednesday, hitting $66.41. 752,800 shares of the company’s stock were exchanged, compared to its average volume of 563,749. The stock has a market capitalization of $5.76 billion, a PE ratio of 7.52, a P/E/G ratio of 2.92 and a beta of 1.16. Arrow Electronics, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $86.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the business earned $1.88 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 8.49 earnings per share for the current year.
In other Arrow Electronics news, CEO Michael J. Long sold 25,835 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $82.19, for a total transaction of $2,123,378.65. Following the sale, the chief executive officer now owns 381,028 shares of the company’s stock, valued at $31,316,691.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mary Catherine Morris sold 7,108 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $81.84, for a total transaction of $581,718.72. Following the sale, the insider now directly owns 17,147 shares in the company, valued at approximately $1,403,310.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,272 shares of company stock worth $3,303,989. 1.40% of the stock is owned by corporate insiders.
ARW has been the subject of a number of analyst reports. Stifel Nicolaus lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price objective for the company. in a report on Friday, February 1st. SunTrust Banks upped their price objective on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a report on Friday, February 8th. Zacks Investment Research lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Bank of America lowered shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective for the company. in a report on Monday, May 6th. Finally, ValuEngine lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price 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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