Prudential Financial Inc. Buys 355,903 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Prudential Financial Inc. increased its position in Arrow Electronics, Inc. (NYSE:ARW) by 76.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 821,136 shares of the technology company’s stock after purchasing an additional 355,903 shares during the quarter. Prudential Financial Inc. owned approximately 0.93% of Arrow Electronics worth $66,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARW. Synovus Financial Corp raised its stake in shares of Arrow Electronics by 2.9% in the second quarter. Synovus Financial Corp now owns 4,541 shares of the technology company’s stock worth $353,000 after purchasing an additional 126 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Arrow Electronics by 2.1% in the second quarter. M&T Bank Corp now owns 6,471 shares of the technology company’s stock worth $507,000 after acquiring an additional 136 shares during the period. People s United Financial Inc. grew its holdings in shares of Arrow Electronics by 0.9% in the second quarter. People s United Financial Inc. now owns 22,754 shares of the technology company’s stock worth $1,785,000 after acquiring an additional 206 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Arrow Electronics by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 41,786 shares of the technology company’s stock worth $3,276,000 after acquiring an additional 371 shares during the period. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Arrow Electronics by 0.5% in the second quarter. Brandywine Global Investment Management LLC now owns 81,476 shares of the technology company’s stock worth $6,390,000 after acquiring an additional 420 shares during the period. Institutional investors own 92.67% of the company’s stock.

Arrow Electronics, Inc. (NYSE:ARW) opened at $83.67 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $7,327.27, a PE ratio of 11.80, a PEG ratio of 0.88 and a beta of 1.18. Arrow Electronics, Inc. has a one year low of $68.55 and a one year high of $84.60.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, November 2nd. The technology company reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. research analysts forecast that Arrow Electronics, Inc. will post 7.35 EPS for the current year.

Separately, Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th.

In other news, SVP Matthew R. Anderson sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.00, for a total transaction of $111,864.00. Following the transaction, the senior vice president now owns 1,416 shares of the company’s stock, valued at $111,864. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean J. Kerins sold 3,816 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total value of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares in the company, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,032 shares of company stock worth $788,816. Company insiders own 1.20% of the company’s stock.

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Arrow Electronics 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.

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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