Arrow Electronics, Inc. (ARW) Chairman Michael J. Long Sells 20,910 Shares
Arrow Electronics, Inc. (NYSE:ARW) Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $76.01, for a total value of $1,589,369.10. Following the completion of the transaction, the chairman now owns 346,486 shares in the company, valued at $26,336,400.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Arrow Electronics, Inc. (NYSE ARW) traded up 1.50% on Monday, hitting $76.43. The company’s stock had a trading volume of 343,221 shares. The company has a 50 day moving average of $79.92 and a 200 day moving average of $75.42. Arrow Electronics, Inc. has a 1-year low of $58.51 and a 1-year high of $84.53. The firm has a market cap of $6.75 billion, a PE ratio of 13.98 and a beta of 1.13.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The business had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts forecast that Arrow Electronics, Inc. will post $7.32 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Arrow Electronics by 70.4% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock worth $328,000 after buying an additional 1,900 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Arrow Electronics by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 31,061 shares of the technology company’s stock worth $2,280,000 after buying an additional 520 shares during the period. Bank of Montreal Can raised its position in shares of Arrow Electronics by 0.9% in the first quarter. Bank of Montreal Can now owns 20,373 shares of the technology company’s stock worth $1,495,000 after buying an additional 181 shares during the period. Capstone Asset Management Co. raised its position in shares of Arrow Electronics by 2.5% in the first quarter. Capstone Asset Management Co. now owns 10,995 shares of the technology company’s stock worth $807,000 after buying an additional 270 shares during the period. Finally, Parametrica Management Ltd acquired a new position in shares of Arrow Electronics during the first quarter worth about $208,000. 95.07% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. BidaskClub downgraded Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Wednesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 target price (up from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus lifted their target price on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $77.17.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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