Stone Ridge Asset Management LLC grew its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 51.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,501 shares of the technology company’s stock after acquiring an additional 8,957 shares during the period. Stone Ridge Asset Management LLC’s holdings in Arrow Electronics were worth $2,246,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in Arrow Electronics by 1.1% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 15,420 shares of the technology company’s stock worth $1,307,000 after buying an additional 170 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in Arrow Electronics by 0.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 61,252 shares of the technology company’s stock worth $4,568,000 after purchasing an additional 190 shares during the last quarter. World Asset Management Inc grew its holdings in Arrow Electronics by 3.5% in the third quarter. World Asset Management Inc now owns 7,507 shares of the technology company’s stock worth $560,000 after purchasing an additional 257 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Arrow Electronics by 53.2% in the fourth quarter. Quadrant Capital Group LLC now owns 826 shares of the technology company’s stock worth $64,000 after purchasing an additional 287 shares during the last quarter. Finally, BBVA USA Bancshares Inc. grew its holdings in Arrow Electronics by 5.8% in the fourth quarter. BBVA USA Bancshares Inc. now owns 6,802 shares of the technology company’s stock worth $577,000 after purchasing an additional 370 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.
In other Arrow Electronics news, CEO Michael J. Long sold 60,122 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.45, for a total value of $4,836,814.90. Following the sale, the chief executive officer now directly owns 295,071 shares of the company’s stock, valued at $23,738,461.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Shares of ARW traded down $0.28 during trading hours on Friday, reaching $78.93. 12,699 shares of the company traded hands, compared to its average volume of 570,016. The stock has a market capitalization of $6.28 billion, a P/E ratio of -33.01, a P/E/G ratio of 2.09 and a beta of 1.37. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.54. Arrow Electronics, Inc. has a 12-month low of $62.35 and a 12-month high of $86.62. The business has a fifty day moving average price of $81.61 and a 200-day moving average price of $77.27.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.34 billion. Arrow Electronics had a negative net margin of 0.71% and a positive return on equity of 12.67%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 earnings per share. As a group, research analysts predict that Arrow Electronics, Inc. will post 7.75 EPS for the current fiscal year.
Several research firms have issued reports on ARW. Raymond James reaffirmed a “buy” rating and issued a $87.00 price target (up from $80.00) on shares of Arrow Electronics in a report on Friday, November 1st. TheStreet raised shares of Arrow Electronics from a “c+” rating to a “b-” rating in a report on Friday, November 29th. Wells Fargo & Co lowered shares of Arrow Electronics from an “overweight” rating to an “equal weight” rating and set a $86.00 price target on the stock. in a report on Monday, January 13th. Stifel Nicolaus set a $75.00 price target on shares of Arrow Electronics and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, SunTrust Banks lifted their price target on shares of Arrow Electronics from $70.00 to $84.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $78.88.
About Arrow Electronics
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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