TIAA CREF Investment Management LLC lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 284,955 shares of the technology company’s stock after selling 11,259 shares during the period. TIAA CREF Investment Management LLC’s holdings in Arrow Electronics were worth $20,919,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ARW. LSV Asset Management raised its stake in Arrow Electronics by 248.2% in the first quarter. LSV Asset Management now owns 1,894,022 shares of the technology company’s stock worth $139,040,000 after buying an additional 1,350,020 shares in the last quarter. Norges Bank purchased a new stake in Arrow Electronics during the fourth quarter worth about $68,623,000. Boston Partners raised its stake in Arrow Electronics by 8.1% in the first quarter. Boston Partners now owns 5,864,925 shares of the technology company’s stock worth $430,544,000 after buying an additional 437,908 shares in the last quarter. Wellington Management Group LLP raised its stake in Arrow Electronics by 7.3% in the first quarter. Wellington Management Group LLP now owns 6,069,251 shares of the technology company’s stock worth $445,543,000 after buying an additional 415,098 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Arrow Electronics by 1,689.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 157,377 shares of the technology company’s stock worth $11,232,000 after buying an additional 148,581 shares in the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.
Shares of Arrow Electronics, Inc. (NYSE:ARW) traded down 0.416% on Tuesday, reaching $77.825. 54,287 shares of the company were exchanged. The stock has a 50 day moving average price of $75.55 and a 200-day moving average price of $73.31. The stock has a market capitalization of $6.91 billion, a P/E ratio of 13.404 and a beta of 1.08. Arrow Electronics, Inc. has a 12 month low of $58.52 and a 12 month high of $78.23.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, May 4th. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.44 by $0.02. The firm had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.58 billion. Arrow Electronics had a net margin of 2.20% and a return on equity of 13.59%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. On average, equities analysts expect that Arrow Electronics, Inc. will post $7.11 EPS for the current fiscal year.
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ARW has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, April 11th. Stifel Nicolaus boosted their price objective on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Hold” and an average price target of $71.17.
In other news, SVP Gretchen Zech sold 9,781 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $77.34, for a total value of $756,462.54. Following the sale, the senior vice president now directly owns 17,186 shares in the company, valued at $1,329,165.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Catherine Morris sold 9,692 shares of Arrow Electronics stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $75.07, for a total transaction of $727,578.44. Following the completion of the sale, the insider now owns 21,570 shares in the company, valued at $1,619,259.90. The disclosure for this sale can be found here. Insiders have sold a total of 28,233 shares of company stock worth $2,148,561 over the last 90 days. Corporate insiders own 1.20% 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 various electronic components and enterprise computing solutions suppliers.
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