Dupont Capital Management Corp reduced its stake in Arrow Electronics, Inc. (NYSE:ARW) by 44.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,043 shares of the technology company’s stock after selling 25,436 shares during the period. Dupont Capital Management Corp’s holdings in Arrow Electronics were worth $2,362,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its holdings in Arrow Electronics by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the technology company’s stock valued at $1,784,000 after acquiring an additional 700 shares during the last quarter. Alpha Windward LLC increased its holdings in shares of Arrow Electronics by 11.1% in the 2nd quarter. Alpha Windward LLC now owns 7,347 shares of the technology company’s stock worth $553,000 after buying an additional 734 shares during the last quarter. Strs Ohio increased its holdings in shares of Arrow Electronics by 10.4% in the 3rd quarter. Strs Ohio now owns 8,442 shares of the technology company’s stock worth $622,000 after buying an additional 796 shares during the last quarter. American International Group Inc. increased its holdings in shares of Arrow Electronics by 0.5% in the 2nd quarter. American International Group Inc. now owns 176,334 shares of the technology company’s stock worth $13,274,000 after buying an additional 877 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arrow Electronics by 6.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,916 shares of the technology company’s stock worth $1,123,000 after buying an additional 886 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.
In related news, insider Charles Kostalnick II sold 700 shares of Arrow Electronics stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $74.37, for a total transaction of $52,059.00. Following the completion of the transaction, the insider now directly owns 12,780 shares of the company’s stock, valued at approximately $950,448.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vincent P. Melvin sold 2,000 shares of Arrow Electronics stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $78.10, for a total transaction of $156,200.00. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at $1,278,575.10. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Arrow Electronics stock opened at $73.75 on Wednesday. Arrow Electronics, Inc. has a twelve month low of $64.04 and a twelve month high of $87.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.62. The stock has a market capitalization of $6.35 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, November 1st. The technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.02. Arrow Electronics had a net margin of 1.84% and a return on equity of 15.12%. The firm had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the firm posted $1.82 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Arrow Electronics, Inc. will post 8.82 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Tuesday, July 17th. Wells Fargo & Co assumed 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. ValuEngine upgraded shares of Arrow Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Finally, Citigroup boosted their target price on shares of Arrow Electronics from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.00.
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About Arrow Electronics
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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