Louisiana State Employees Retirement System decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,700 shares of the technology company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Arrow Electronics were worth $1,749,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ARW. JPMorgan Chase & Co. grew its position in Arrow Electronics by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock worth $423,313,000 after buying an additional 370,095 shares during the period. Paloma Partners Management Co lifted its stake in shares of Arrow Electronics by 50.1% during the third quarter. Paloma Partners Management Co now owns 8,442 shares of the technology company’s stock valued at $622,000 after buying an additional 2,819 shares during the period. Man Group plc purchased a new position in shares of Arrow Electronics during the third quarter valued at approximately $293,000. Verition Fund Management LLC lifted its stake in shares of Arrow Electronics by 123.3% during the third quarter. Verition Fund Management LLC now owns 7,450 shares of the technology company’s stock valued at $549,000 after buying an additional 4,113 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Arrow Electronics by 43.9% during the third quarter. Macquarie Group Ltd. now owns 22,300 shares of the technology company’s stock valued at $1,645,000 after buying an additional 6,800 shares during the period. 94.54% of the stock is owned by institutional investors and hedge funds.
ARW has been the topic of several recent analyst reports. SunTrust Banks upped their price objective on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a research note on Friday, February 8th. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price objective on the stock. in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $83.33.
In other news, insider Charles Kostalnick II sold 1,250 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $81.99, for a total value of $102,487.50. Following the completion of the sale, the insider now owns 15,248 shares of the company’s stock, valued at $1,250,183.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean J. Kerins sold 5,286 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $81.64, for a total transaction of $431,549.04. Following the completion of the sale, the insider now directly owns 35,955 shares of the company’s stock, valued at approximately $2,935,366.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,351 shares of company stock worth $8,322,837. 1.40% of the stock is currently owned by insiders.
NYSE:ARW opened at $84.88 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.35 and a beta of 1.13. Arrow Electronics, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $85.06.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported $2.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.01. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.94 billion. Arrow Electronics had a net margin of 2.41% and a return on equity of 14.88%. Arrow Electronics’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 earnings per share. On average, equities analysts predict that Arrow Electronics, Inc. will post 9.07 earnings per share for the current fiscal year.
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Arrow Electronics 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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