Insider Selling: Arrow Electronics CFO Sells 15,000 Shares of Stock (ARW)
Arrow Electronics (NYSE:ARW) CFO Paul J. Reilly sold 15,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 21st. The shares were sold at an average price of $62.02, for a total value of $930,300.00. Following the completion of the sale, the chief financial officer now directly owns 100,644 shares in the company, valued at approximately $6,241,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating in a research note on Monday, August 18th. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.75.
Shares of Arrow Electronics (NYSE:ARW) traded up 0.58% on Monday, hitting $62.06. 44,355 shares of the company’s stock traded hands. Arrow Electronics has a 52-week low of $45.34 and a 52-week high of $62.28. The stock has a 50-day moving average of $60. and a 200-day moving average of $58.01. The company has a market cap of $6.134 billion and a P/E ratio of 13.37.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter 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.
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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