Arrow Electronics Inc. (ARW) Insider Sells $542,240.00 in Stock
Arrow Electronics Inc. (NYSE:ARW) insider Mary Catherine Morris sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $67.78, for a total transaction of $542,240.00. Following the completion of the transaction, the insider now owns 22,166 shares in the company, valued at approximately $1,502,411.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Arrow Electronics Inc. (NYSE:ARW) opened at 68.27 on Thursday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 12.27 and a beta of 1.23. Arrow Electronics Inc. has a 1-year low of $45.23 and a 1-year high of $68.94. The stock has a 50 day moving average of $63.53 and a 200 day moving average of $64.21.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, November 3rd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.05. The firm earned $5.94 billion during the quarter, compared to analyst estimates of $5.86 billion. Arrow Electronics had a return on equity of 13.95% and a net margin of 2.14%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Analysts predict that Arrow Electronics Inc. will post $6.63 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in ARW. Vanguard Group Inc. raised its stake in Arrow Electronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,978,768 shares of the company’s stock worth $431,986,000 after buying an additional 280,549 shares during the period. Boston Partners raised its stake in shares of Arrow Electronics by 6.6% in the second quarter. Boston Partners now owns 5,826,500 shares of the company’s stock worth $360,660,000 after buying an additional 358,680 shares during the last quarter. State Street Corp raised its stake in shares of Arrow Electronics by 2.2% in the second quarter. State Street Corp now owns 3,445,794 shares of the company’s stock worth $213,297,000 after buying an additional 74,361 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Arrow Electronics by 4.2% in the third quarter. BlackRock Fund Advisors now owns 3,314,724 shares of the company’s stock worth $212,043,000 after buying an additional 132,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arrow Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,145,366 shares of the company’s stock worth $194,686,000 after buying an additional 108,856 shares during the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on ARW. Goldman Sachs Group Inc. downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $63.00 in a research report on Tuesday, September 20th. Citigroup Inc. boosted their price target on shares of Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. Brean Capital set a $70.00 price target on shares of Arrow Electronics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, restated an “outperform” rating on shares of Arrow Electronics in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.33.
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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.
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