State of Wisconsin Investment Board Decreases Position in Arrow Electronics Inc. (ARW)
State of Wisconsin Investment Board cut its stake in Arrow Electronics Inc. (NYSE:ARW) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,237 shares of the company’s stock after selling 2,300 shares during the period. State of Wisconsin Investment Board’s holdings in Arrow Electronics were worth $3,725,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Weaver C. Barksdale & Associates Inc. raised its stake in shares of Arrow Electronics by 8.9% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,679 shares of the company’s stock valued at $104,000 after buying an additional 137 shares during the period. Robecosam AG raised its stake in shares of Arrow Electronics by 42.9% in the second quarter. Robecosam AG now owns 2,000 shares of the company’s stock valued at $121,000 after buying an additional 600 shares during the period. Seven Eight Capital LLC raised its stake in shares of Arrow Electronics by 154.5% in the second quarter. Seven Eight Capital LLC now owns 2,800 shares of the company’s stock valued at $173,000 after buying an additional 1,700 shares during the period. Invictus RG acquired a new stake in shares of Arrow Electronics during the second quarter valued at about $183,000. Finally, Stifel Financial Corp acquired a new stake in shares of Arrow Electronics during the second quarter valued at about $234,000. 95.26% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics Inc. (NYSE:ARW) traded up 0.25% during trading on Tuesday, hitting $68.40. 384,573 shares of the stock traded hands. The stock has a 50 day moving average price of $63.24 and a 200-day moving average price of $64.13. The stock has a market cap of $6.13 billion, a P/E ratio of 12.29 and a beta of 1.23. Arrow Electronics Inc. has a 52-week low of $45.23 and a 52-week high of $68.94.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 net margin of 2.14% and a return on equity of 13.95%. Arrow Electronics’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. On average, analysts anticipate that Arrow Electronics Inc. will post $6.63 EPS for the current fiscal year.
Several analysts recently issued reports on the stock. Brean Capital set a $70.00 target price on shares of Arrow Electronics and gave the company a “buy” rating in a research report on Sunday, November 6th. Citigroup Inc. boosted their target price on shares of Arrow Electronics from $48.00 to $57.00 and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. lowered shares of Arrow Electronics from a “buy” rating to a “neutral” rating and cut their target price for the company from $72.00 to $63.00 in a research report on Tuesday, September 20th. Finally, reaffirmed an “outperform” rating on shares of Arrow Electronics in a 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 issued a buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Hold” and a consensus target price of $63.33.
In related news, insider Sean J. Kerins sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $62.00, for a total value of $248,000.00. Following the transaction, the insider now owns 20,609 shares in the company, valued at approximately $1,277,758. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mary Catherine Morris sold 8,000 shares of the 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 disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
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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