Comerica Bank lessened its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 56,333 shares of the technology company’s stock after selling 1,824 shares during the quarter. Comerica Bank’s holdings in Arrow Electronics were worth $4,679,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in Arrow Electronics in the 4th quarter worth $31,000. Lindbrook Capital LLC purchased a new position in Arrow Electronics in the 4th quarter worth $37,000. JOYN Advisors Inc. raised its stake in Arrow Electronics by 317.8% in the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock worth $42,000 after acquiring an additional 464 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Arrow Electronics in the 1st quarter worth $55,000. Finally, Oregon Public Employees Retirement Fund raised its stake in Arrow Electronics by 8,975.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,854,494 shares of the technology company’s stock worth $70,000 after acquiring an additional 4,801,004 shares during the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.
In other news, CEO Michael J. Long sold 53,984 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $80.70, for a total transaction of $4,356,508.80. Following the sale, the chief executive officer now directly owns 366,253 shares in the company, valued at approximately $29,556,617.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Kostalnick II sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $81.99, for a total value of $102,487.50. Following the sale, the insider now owns 15,248 shares in the company, valued at $1,250,183.52. The disclosure for this sale can be found here. Insiders have sold a total of 102,351 shares of company stock valued at $8,322,837 in the last quarter. Company insiders own 1.40% of the company’s stock.
NYSE ARW opened at $68.86 on Thursday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.99 and a beta of 1.16. Arrow Electronics, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $86.62. The company has a quick ratio of 1.21, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.06). The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. Analysts forecast that Arrow Electronics, Inc. will post 8.49 EPS for the current year.
ARW has been the subject of a number of research analyst reports. Zacks Investment Research lowered Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. SunTrust Banks raised their target price on Arrow Electronics to $84.00 and gave the stock a “hold” rating in a research note on Friday, February 8th. Stifel Nicolaus lowered Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price for the company. in a research note on Friday, February 1st. ValuEngine lowered Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Bank of America lowered Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective for the company. in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Arrow Electronics presently has an average rating of “Hold” and a consensus price target of $83.21.
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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