Nomura Holdings Inc. reduced its position in shares of Arrow Electronics Inc. (NYSE:ARW) by 29.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the company’s stock after selling 2,050 shares during the period. Nomura Holdings Inc.’s holdings in Arrow Electronics were worth $303,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in ARW. Vanguard Group Inc. raised its position in Arrow Electronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,978,768 shares of the company’s stock worth $431,986,000 after buying an additional 280,549 shares during the period. Wellington Management Group LLP raised its position in Arrow Electronics by 0.9% in the first quarter. Wellington Management Group LLP now owns 5,858,273 shares of the company’s stock worth $377,331,000 after buying an additional 53,726 shares during the period. Boston Partners raised its position in Arrow Electronics by 6.6% in the second quarter. Boston Partners now owns 5,826,500 shares of the company’s stock worth $360,660,000 after buying an additional 358,680 shares during the period. State Street Corp raised its position in Arrow Electronics by 2.2% in the second quarter. State Street Corp now owns 3,445,794 shares of the company’s stock worth $213,297,000 after buying an additional 74,361 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Arrow Electronics by 4.2% in the second quarter. BlackRock Fund Advisors now owns 3,182,578 shares of the company’s stock worth $197,002,000 after buying an additional 129,487 shares during the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.
Shares of Arrow Electronics Inc. (NYSE:ARW) opened at 63.85 on Thursday. Arrow Electronics Inc. has a 1-year low of $45.23 and a 1-year high of $68.07. The stock has a market capitalization of $5.83 billion, a P/E ratio of 11.76 and a beta of 1.48. The stock’s 50 day moving average price is $64.67 and its 200-day moving average price is $63.92.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.01. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.04 billion. Arrow Electronics had a return on equity of 13.94% and a net margin of 2.13%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 earnings per share. Equities research analysts anticipate that Arrow Electronics Inc. will post $6.65 EPS for the current fiscal year.
ARW has been the subject of a number of research reports. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Goldman Sachs Group Inc. lowered Arrow Electronics from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, July 7th. Brean Capital set a $70.00 price objective on Arrow Electronics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. raised their price objective on Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Arrow Electronics in a research report on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $63.33.
In related news, General Counsel Gregory Tarpinian sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $66.40, for a total transaction of $66,400.00. Following the sale, the general counsel now owns 6,099 shares of the company’s stock, valued at $404,973.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael J. Long sold 44,777 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $66.35, for a total value of $2,970,953.95. Following the sale, the chairman now directly owns 308,393 shares in the company, valued at approximately $20,461,875.55. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.
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