Cypress Capital Management LLC reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 14.6% in the 1st quarter, HoldingsChannel reports. The fund owned 5,042 shares of the technology company’s stock after selling 860 shares during the quarter. Cypress Capital Management LLC’s holdings in Arrow Electronics were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ARW. JPMorgan Chase & Co. boosted its position in shares of Arrow Electronics by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock worth $423,313,000 after acquiring an additional 370,095 shares during the last quarter. Man Group plc acquired a new stake in shares of Arrow Electronics in the third quarter worth approximately $293,000. Morgan Stanley boosted its position in shares of Arrow Electronics by 13.0% in the third quarter. Morgan Stanley now owns 261,153 shares of the technology company’s stock worth $19,254,000 after acquiring an additional 29,974 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Arrow Electronics by 0.9% in the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after acquiring an additional 70,647 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Arrow Electronics by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 9,239 shares of the technology company’s stock worth $637,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.

Shares of ARW traded up $0.18 during mid-day trading on Wednesday, reaching $68.66. 3,681 shares of the stock traded hands, compared to its average volume of 563,757. The firm has a market capitalization of $5.77 billion, a P/E ratio of 7.69, a P/E/G ratio of 2.99 and a beta of 1.16. Arrow Electronics, Inc. has a 12-month low of $62.69 and a 12-month 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 posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The firm 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 company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 EPS. Equities analysts expect that Arrow Electronics, Inc. will post 8.49 earnings per share for the current fiscal year.

ARW has been the topic of several research analyst reports. Zacks Investment Research cut shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks lifted their price target on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a research report on Friday, February 8th. Stifel Nicolaus cut shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price target on the stock. in a research report on Friday, February 1st. ValuEngine cut shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Bank of America cut shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price target on the stock. in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $83.21.

In other news, CEO Michael J. Long sold 53,984 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, February 19th. The shares were 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 owns 366,253 shares in the company, valued at $29,556,617.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean J. Kerins sold 5,286 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $81.64, for a total transaction of $431,549.04. Following the sale, the insider now owns 35,955 shares in the company, valued at approximately $2,935,366.20. The disclosure for this sale can be found here. Insiders have sold 102,351 shares of company stock worth $8,322,837 in the last quarter. Insiders own 1.40% of the company’s stock.

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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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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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