LS Investment Advisors LLC cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,609 shares of the technology company’s stock after selling 212 shares during the period. LS Investment Advisors LLC’s holdings in Arrow Electronics were worth $509,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Arrow Electronics by 6.9% in 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 during the last quarter. Man Group plc acquired a new stake in Arrow Electronics in the 3rd quarter valued at approximately $293,000. Macquarie Group Ltd. increased its holdings in Arrow Electronics by 43.9% in the 3rd 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 last quarter. Morgan Stanley increased its holdings in Arrow Electronics by 13.0% in 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 during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Arrow Electronics by 0.9% in 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 during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
Several research firms recently weighed in on ARW. 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 target price for the company. in a report on Monday, May 6th. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. SunTrust Banks upped their target price on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a report on Friday, February 8th. Finally, Stifel Nicolaus lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price on the stock. in a research report on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $83.21.
In other news, Director Gail Hamilton sold 2,043 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $81.91, for a total value of $167,342.13. Following the completion of the sale, the director now owns 2 shares of the company’s stock, valued at $163.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Long sold 25,835 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $82.19, for a total transaction of $2,123,378.65. Following the completion of the sale, the chief executive officer now directly owns 381,028 shares of the company’s stock, valued at approximately $31,316,691.32. The disclosure for this sale can be found here. Insiders sold 33,164 shares of company stock valued at $2,722,270 in the last three months. Company insiders own 1.40% of the company’s stock.
Shares of ARW traded up $0.30 on Friday, hitting $65.26. 509,200 shares of the stock traded hands, compared to its average volume of 563,453. Arrow Electronics, Inc. has a 1 year low of $62.69 and a 1 year high of $86.62. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.99 and a beta of 1.16. 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 released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share (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 business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period in the previous year, the company earned $1.88 EPS. Arrow Electronics’s revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Arrow Electronics, Inc. will post 8.49 EPS for the current fiscal year.
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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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