Arrow Electronics VP Sells $445,889 in Stock (ARW)
Arrow Electronics (NYSE:ARW) VP Mary Catherine Morris unloaded 7,347 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $60.69, for a total transaction of $445,889.43. Following the completion of the transaction, the vice president now directly owns 23,491 shares in the company, valued at approximately $1,425,669. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Arrow Electronics (NYSE:ARW) traded up 0.43% during mid-day trading on Tuesday, hitting $60.80. 168,601 shares of the company’s stock traded hands. Arrow Electronics has a one year low of $45.34 and a one year high of $62.18. The stock’s 50-day moving average is $60.10 and its 200-day moving average is $57.75. The company has a market cap of $6.009 billion and a price-to-earnings ratio of 13.12.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.01. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Arrow Electronics will post $5.78 EPS for the current fiscal year.
A number of analysts have recently weighed in on ARW shares. Analysts at Goldman Sachs downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating in a research note on Monday. They now have a $59.00 price target on the stock, down previously from $60.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Arrow Electronics in a research note on Wednesday, July 30th. They now have a $60.00 price target on the stock, up previously from $55.00. Finally, analysts at Brean Capital raised their price target on shares of Arrow Electronics from $64.00 to $66.00 in a research note on Wednesday, July 30th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $61.75.
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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