Barings LLC maintained its position in shares of Arrow Electronics, Inc. (NYSE:ARW) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,400 shares of the technology company’s stock at the end of the second quarter. Barings LLC’s holdings in Arrow Electronics were worth $910,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Arrow Electronics by 4,788.3% during the first quarter. BlackRock Inc. now owns 8,306,456 shares of the technology company’s stock valued at $609,777,000 after buying an additional 8,136,530 shares in the last quarter. Vanguard Group Inc. raised its holdings in Arrow Electronics by 2.2% during the second quarter. Vanguard Group Inc. now owns 7,643,715 shares of the technology company’s stock valued at $599,421,000 after buying an additional 164,059 shares in the last quarter. Boston Partners raised its holdings in Arrow Electronics by 0.3% during the second quarter. Boston Partners now owns 5,879,972 shares of the technology company’s stock valued at $461,107,000 after buying an additional 15,047 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Arrow Electronics by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,423,521 shares of the technology company’s stock valued at $268,476,000 after buying an additional 18,653 shares in the last quarter. Finally, State Street Corp raised its holdings in Arrow Electronics by 0.9% during the first quarter. State Street Corp now owns 3,186,798 shares of the technology company’s stock valued at $233,938,000 after buying an additional 27,200 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.
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In other Arrow Electronics news, insider Sean J. Kerins sold 4,477 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.16, for a total value of $345,445.32. Following the transaction, the insider now directly owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael J. Long sold 20,910 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the transaction, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on ARW. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Stifel Nicolaus restated a “buy” rating and set a $86.00 target price on shares of Arrow Electronics in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Arrow Electronics currently has a consensus rating of “Hold” and a consensus target price of $80.60.
Arrow Electronics, Inc. (NYSE ARW) opened at 83.35 on Friday. Arrow Electronics, Inc. has a 1-year low of $58.51 and a 1-year high of $84.53. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 15.24 and a beta of 1.15. The stock has a 50 day moving average price of $79.71 and a 200-day moving average price of $77.08.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. Arrow Electronics’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. Equities analysts predict that Arrow Electronics, Inc. will post $7.32 earnings per share for the current year.
Arrow Electronics Company Profile
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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