Earnest Partners LLC lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,830 shares of the technology company’s stock after selling 15,436 shares during the quarter. Earnest Partners LLC owned 0.44% of Arrow Electronics worth $31,346,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of ARW. Cooke & Bieler LP raised its position in Arrow Electronics by 158.8% in the 4th quarter. Cooke & Bieler LP now owns 1,372,083 shares of the technology company’s stock worth $110,330,000 after purchasing an additional 842,003 shares during the period. Prudential Financial Inc. raised its position in Arrow Electronics by 76.5% in the 3rd quarter. Prudential Financial Inc. now owns 821,136 shares of the technology company’s stock worth $66,027,000 after purchasing an additional 355,903 shares during the period. Schroder Investment Management Group raised its position in Arrow Electronics by 37.4% in the 4th quarter. Schroder Investment Management Group now owns 1,013,677 shares of the technology company’s stock worth $81,510,000 after purchasing an additional 276,039 shares during the period. First Trust Advisors LP raised its position in Arrow Electronics by 109.8% in the 4th quarter. First Trust Advisors LP now owns 359,080 shares of the technology company’s stock worth $28,874,000 after purchasing an additional 187,939 shares during the period. Finally, BlackRock Inc. raised its position in Arrow Electronics by 1.8% in the 4th quarter. BlackRock Inc. now owns 8,300,258 shares of the technology company’s stock worth $667,422,000 after purchasing an additional 150,230 shares during the period. Institutional investors own 93.64% of the company’s stock.
ARW has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Friday, February 23rd. Pivotal Research started coverage on shares of Arrow Electronics in a report on Tuesday, February 13th. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Raymond James Financial raised shares of Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $89.80.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.21. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.46 billion. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. equities analysts expect that Arrow Electronics, Inc. will post 8.47 earnings per share for the current year.
In other Arrow Electronics news, insider Mary Catherine Morris sold 3,545 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $82.43, for a total value of $292,214.35. Following the sale, the insider now owns 20,742 shares of the company’s stock, valued at approximately $1,709,763.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vincent P. Melvin sold 3,125 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $82.64, for a total transaction of $258,250.00. Following the completion of the sale, the insider now directly owns 18,371 shares in the company, valued at approximately $1,518,179.44. The disclosure for this sale can be found here. In the last three months, insiders sold 59,113 shares of company stock worth $4,898,398. Insiders own 1.20% of the company’s stock.
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Arrow Electronics Company Profile
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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