Insider Selling: Mary Catherine Morris Sells 7,347 Shares of Arrow Electronics Stock (ARW)
Arrow Electronics (NYSE:ARW) VP Mary Catherine Morris sold 7,347 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $60.69, for a total transaction of $445,889.43. Following the transaction, the vice president now directly owns 23,491 shares in the company, valued at approximately $1,425,669. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ARW has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $61.75.
Arrow Electronics (NYSE:ARW) opened at 61.60 on Thursday. Arrow Electronics has a 52 week low of $45.34 and a 52 week high of $62.18. The stock’s 50-day moving average is $60.12 and its 200-day moving average is $57.89. The company has a market cap of $6.088 billion and a P/E ratio of 13.33.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.12 earnings per share. Arrow Electronics’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that Arrow Electronics will post $5.78 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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