Envestnet Asset Management Inc. boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2,735.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,734 shares of the technology company’s stock after purchasing an additional 8,426 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Arrow Electronics were worth $702,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ARW. Thrivent Financial For Lutherans raised its position in Arrow Electronics by 2,948.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 513,673 shares of the technology company’s stock valued at $40,283,000 after purchasing an additional 496,823 shares during the last quarter. LSV Asset Management raised its position in Arrow Electronics by 13.1% in the 2nd quarter. LSV Asset Management now owns 2,142,395 shares of the technology company’s stock valued at $168,006,000 after purchasing an additional 248,373 shares during the last quarter. Prudential Financial Inc. raised its position in Arrow Electronics by 57.9% in the 2nd quarter. Prudential Financial Inc. now owns 465,233 shares of the technology company’s stock valued at $36,483,000 after purchasing an additional 170,570 shares during the last quarter. Vanguard Group Inc. raised its position in Arrow Electronics by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,643,715 shares of the technology company’s stock valued at $599,421,000 after purchasing an additional 164,059 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Arrow Electronics by 11.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,373,934 shares of the technology company’s stock valued at $107,744,000 after purchasing an additional 144,908 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
Arrow Electronics, Inc. (NYSE:ARW) traded up $0.38 during mid-day trading on Friday, reaching $83.67. 359,618 shares of the company traded hands, compared to its average volume of 391,916. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $7,327.27, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Arrow Electronics, Inc. has a 1 year low of $68.55 and a 1 year high of $84.60.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. Arrow Electronics’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 EPS. research analysts anticipate that Arrow Electronics, Inc. will post 7.35 EPS for the current year.
In other news, SVP Matthew R. Anderson sold 1,416 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.00, for a total transaction of $111,864.00. Following the transaction, the senior vice president now directly owns 1,416 shares of the company’s stock, valued at approximately $111,864. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gail Hamilton sold 4,800 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $78.33, for a total transaction of $375,984.00. Following the transaction, the director now directly owns 91 shares in the company, valued at $7,128.03. The disclosure for this sale can be found here. Insiders sold a total of 10,032 shares of company stock worth $788,816 over the last three months. 1.20% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd.
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Arrow Electronics Company Profile
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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