Twin Capital Management Inc. raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.9% in the 2nd quarter, Holdings Channel reports. The fund owned 46,440 shares of the technology company’s stock after purchasing an additional 1,300 shares during the quarter. Twin Capital Management Inc.’s holdings in Arrow Electronics were worth $3,496,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Arrow Electronics by 4.9% in the 1st quarter. BlackRock Inc. now owns 8,703,890 shares of the technology company’s stock valued at $670,375,000 after buying an additional 403,632 shares during the period. Schroder Investment Management Group raised its holdings in shares of Arrow Electronics by 36.0% in the 1st quarter. Schroder Investment Management Group now owns 1,378,400 shares of the technology company’s stock valued at $106,164,000 after purchasing an additional 364,723 shares during the period. Cooke & Bieler LP raised its holdings in shares of Arrow Electronics by 17.7% in the 2nd quarter. Cooke & Bieler LP now owns 1,769,766 shares of the technology company’s stock valued at $133,228,000 after purchasing an additional 265,565 shares during the period. Millennium Management LLC raised its holdings in shares of Arrow Electronics by 1,406.8% in the 1st quarter. Millennium Management LLC now owns 283,286 shares of the technology company’s stock valued at $21,819,000 after purchasing an additional 264,485 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Arrow Electronics by 60.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 656,952 shares of the technology company’s stock valued at $49,455,000 after purchasing an additional 248,719 shares during the period. Institutional investors own 92.81% of the company’s stock.
A number of brokerages have recently issued reports on ARW. ValuEngine cut shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Monday, June 18th. Wells Fargo & Co began coverage on shares of Arrow Electronics in a report on Tuesday, July 17th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Pivotal Research set a $98.00 target price on shares of Arrow Electronics and gave the company a “buy” rating in a report on Monday, May 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $88.17.
Arrow Electronics stock opened at $75.83 on Friday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 0.92 and a beta of 1.12. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. Arrow Electronics, Inc. has a twelve month low of $72.31 and a twelve month high of $87.26.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.05. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Arrow Electronics had a net margin of 1.72% and a return on equity of 14.81%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. equities analysts forecast that Arrow Electronics, Inc. will post 8.88 earnings per share for the current fiscal year.
In other Arrow Electronics news, insider Vincent P. Melvin sold 2,000 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $78.10, for a total value of $156,200.00. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $1,278,575.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Gretchen Zech sold 4,500 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $77.00, for a total transaction of $346,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,814 shares in the company, valued at $1,679,678. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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