Pacer Advisors Inc. increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 94.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,753 shares of the technology company’s stock after buying an additional 17,834 shares during the period. Pacer Advisors Inc.’s holdings in Arrow Electronics were worth $2,525,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ARW. Guggenheim Capital LLC lifted its position in Arrow Electronics by 25.1% during the 4th quarter. Guggenheim Capital LLC now owns 11,517 shares of the technology company’s stock worth $976,000 after buying an additional 2,308 shares in the last quarter. Marshall Wace LLP acquired a new position in Arrow Electronics during the 4th quarter worth about $115,000. Janus Henderson Group PLC lifted its position in Arrow Electronics by 36.3% during the 4th quarter. Janus Henderson Group PLC now owns 24,201 shares of the technology company’s stock worth $2,051,000 after buying an additional 6,448 shares in the last quarter. Alliancebernstein L.P. lifted its position in Arrow Electronics by 28.1% during the 4th quarter. Alliancebernstein L.P. now owns 189,727 shares of the technology company’s stock worth $16,077,000 after buying an additional 41,594 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Arrow Electronics by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 940,759 shares of the technology company’s stock worth $79,645,000 after buying an additional 15,646 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.
In related news, SVP Gretchen Zech sold 8,400 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $67.41, for a total value of $566,244.00. Following the sale, the senior vice president now directly owns 11,528 shares in the company, valued at approximately $777,102.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent P. Melvin sold 8,914 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $67.67, for a total value of $603,210.38. Following the sale, the insider now directly owns 38,971 shares of the company’s stock, valued at $2,637,167.57. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Shares of NYSE:ARW opened at $71.62 on Friday. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.56 and a beta of 1.46. The firm’s 50 day simple moving average is $66.98 and its 200 day simple moving average is $66.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.04. Arrow Electronics, Inc. has a fifty-two week low of $39.25 and a fifty-two week high of $85.80.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.14. The business had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.38 billion. Arrow Electronics had a net margin of 1.41% and a return on equity of 11.39%. Arrow Electronics’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. Equities research analysts expect that Arrow Electronics, Inc. will post 5.97 earnings per share for the current year.
Several brokerages recently issued reports on ARW. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $66.00 price target on the stock. in a research report on Friday, May 8th. Wells Fargo & Co upped their target price on shares of Arrow Electronics from $48.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Raymond James downgraded shares of Arrow Electronics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 14th. Loop Capital started coverage on shares of Arrow Electronics in a research report on Thursday, April 23rd. They set a “buy” rating and a $80.00 target price on the stock. Finally, Bank of America restated a “neutral” rating and set a $73.00 target price (up from $70.00) on shares of Arrow Electronics in a research report on Tuesday, May 5th. Two 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’s stock. Arrow Electronics presently has an average rating of “Hold” and an average target price of $72.00.
Arrow Electronics Company 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.
Read More: Conference Calls
Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW).
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.