Arrow Electronics VP Mary Catherine Morris Sells 2,700 Shares (ARW)
Arrow Electronics (NYSE:ARW) VP Mary Catherine Morris sold 2,700 shares of Arrow Electronics stock on the open market in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $55.53, for a total transaction of $149,931.00. Following the transaction, the vice president now directly owns 23,659 shares in the company, valued at approximately $1,313,784. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on ARW shares. Analysts at Ned Davis Research upgraded shares of Arrow Electronics from a “neutral” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Arrow Electronics in a research note on Monday, February 10th. They now have a $55.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Arrow Electronics from $50.00 to $55.00 in a research note on Thursday, February 6th. They now have a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.29.
Shares of Arrow Electronics (NYSE:ARW) traded up 0.52% during mid-day trading on Thursday, hitting $56.44. The stock had a trading volume of 193,777 shares. Arrow Electronics has a 52 week low of $36.11 and a 52 week high of $56.99. The stock’s 50-day moving average is $52.84 and its 200-day moving average is $50.31. The company has a market cap of $5.642 billion and a price-to-earnings ratio of 14.58.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Wednesday, February 5th. The company reported $1.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.62 by $0.07. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the company posted $1.22 earnings per share. Arrow Electronics’s revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that Arrow Electronics will post $5.67 earnings per share for the current fiscal year.
Arrow Electronics, Inc (NYSE:ARW) is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
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