Pzena Investment Management LLC increased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 0.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 304,776 shares of the technology company’s stock after buying an additional 229 shares during the period. Pzena Investment Management LLC’s holdings in Arrow Electronics were worth $21,721,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARW. Advisory Services Network LLC lifted its position in Arrow Electronics by 199.5% during the second quarter. Advisory Services Network LLC now owns 608 shares of the technology company’s stock valued at $43,000 after buying an additional 405 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Arrow Electronics by 92.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 672 shares of the technology company’s stock valued at $48,000 after buying an additional 322 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Arrow Electronics during the first quarter valued at approximately $55,000. Steward Partners Investment Advisory LLC acquired a new position in Arrow Electronics during the second quarter valued at approximately $66,000. Finally, Buffington Mohr McNeal acquired a new position in Arrow Electronics during the first quarter valued at approximately $77,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE ARW traded up $1.98 during trading on Friday, reaching $68.02. 450,900 shares of the stock were exchanged, compared to its average volume of 698,424. The business’s 50-day moving average price is $69.60 and its 200 day moving average price is $74.19. Arrow Electronics, Inc. has a twelve month low of $62.35 and a twelve month high of $86.62. The company has a quick ratio of 1.15, a current ratio of 1.64 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 7.25 earnings per share for the current fiscal year.
A number of research analysts have weighed in on the stock. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 16th. Cross Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. ValuEngine raised shares of Arrow Electronics from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Raymond James cut shares of Arrow Electronics from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $88.00 to $80.00 in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $77.02.
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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