Clark Capital Management Group Inc. cut its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,830 shares of the technology company’s stock after selling 55,202 shares during the period. Clark Capital Management Group Inc. owned about 0.17% of Arrow Electronics worth $12,289,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Advisors Preferred LLC purchased a new position in shares of Arrow Electronics during the 4th quarter worth about $121,000. Cerebellum GP LLC purchased a new position in shares of Arrow Electronics during the 4th quarter worth about $132,000. Advisor Group Inc. boosted its stake in shares of Arrow Electronics by 76.1% during the 3rd quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock worth $145,000 after purchasing an additional 786 shares during the period. Calton & Associates Inc. purchased a new position in shares of Arrow Electronics during the 4th quarter worth about $156,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Arrow Electronics during the 4th quarter worth about $160,000. Hedge funds and other institutional investors own 93.64% of the company’s stock.
Shares of Arrow Electronics, Inc. (NYSE ARW) opened at $80.64 on Friday. The stock has a market cap of $7,074.65, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.56 and a quick ratio of 1.15. Arrow Electronics, Inc. has a 52-week low of $69.67 and a 52-week high of $87.26.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.21. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same period in the previous year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. equities research analysts anticipate that Arrow Electronics, Inc. will post 8.47 earnings per share for the current year.
ARW has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Raymond James Financial raised shares of Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target for the company in a research note on Monday, February 12th. Finally, Pivotal Research initiated coverage on shares of Arrow Electronics in a research note on Tuesday, February 13th. They set a “buy” rating and a $98.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Arrow Electronics has an average rating of “Buy” and a consensus target price of $89.80.
In related news, insider Vincent P. Melvin sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $82.64, for a total transaction of $258,250.00. Following the completion of the transaction, the insider now owns 18,371 shares in the company, valued at approximately $1,518,179.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mary Catherine Morris sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $82.43, for a total transaction of $292,214.35. Following the transaction, the insider now owns 20,742 shares of the company’s stock, valued at approximately $1,709,763.06. The disclosure for this sale can be found here. Insiders sold a total of 59,113 shares of company stock valued at $4,898,398 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
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About Arrow Electronics
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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