Reilly Financial Advisors LLC lifted its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,989 shares of the technology company’s stock after purchasing an additional 987 shares during the period. Reilly Financial Advisors LLC owned about 0.15% of Arrow Electronics worth $9,656,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of ARW. Blair William & Co. IL lifted its position in shares of Arrow Electronics by 8.6% during the first quarter. Blair William & Co. IL now owns 13,181 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 1,041 shares during the last quarter. Millennium Management LLC raised its stake in Arrow Electronics by 1,406.8% during the first quarter. Millennium Management LLC now owns 283,286 shares of the technology company’s stock worth $21,819,000 after acquiring an additional 264,485 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Arrow Electronics by 78.7% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 134,200 shares of the technology company’s stock worth $10,336,000 after acquiring an additional 59,100 shares during the period. CIBC World Markets Inc. acquired a new stake in Arrow Electronics during the first quarter worth about $483,000. Finally, Principal Financial Group Inc. raised its stake in Arrow Electronics by 10.5% during the first quarter. Principal Financial Group Inc. now owns 613,919 shares of the technology company’s stock worth $47,284,000 after acquiring an additional 58,345 shares during the period. 92.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Gretchen Zech sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $77.00, for a total transaction of $346,500.00. Following the transaction, the senior vice president now owns 21,814 shares in the company, valued at $1,679,678. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vincent P. Melvin sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $78.10, for a total transaction of $156,200.00. Following the transaction, the insider now owns 16,371 shares in the company, valued at approximately $1,278,575.10. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Shares of NYSE ARW traded down $0.11 during mid-day trading on Friday, reaching $68.65. 9,855 shares of the company traded hands, compared to its average volume of 469,037. Arrow Electronics, Inc. has a fifty-two week low of $67.11 and a fifty-two week high of $87.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a market capitalization of $6.13 billion, a PE ratio of 9.07, a P/E/G ratio of 0.83 and a beta of 1.12.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.05. Arrow Electronics had a net margin of 1.72% and a return on equity of 14.81%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 8.88 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on ARW shares. Wells Fargo & Co started coverage on shares of Arrow Electronics in a research note on Tuesday, July 17th. They set an “outperform” rating and a $90.00 price objective on the stock. ValuEngine lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $88.17.
Arrow Electronics 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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