Arrow Electronics, Inc. (ARW) Position Boosted by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 417.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,508 shares of the technology company’s stock after buying an additional 37,522 shares during the period. Cubist Systematic Strategies LLC owned about 0.05% of Arrow Electronics worth $3,740,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Synovus Financial Corp raised its stake in Arrow Electronics by 2.9% during the 2nd quarter. Synovus Financial Corp now owns 4,541 shares of the technology company’s stock valued at $353,000 after buying an additional 126 shares during the last quarter. M&T Bank Corp raised its stake in Arrow Electronics by 2.1% during the 2nd quarter. M&T Bank Corp now owns 6,471 shares of the technology company’s stock valued at $507,000 after buying an additional 136 shares during the last quarter. People s United Financial Inc. raised its stake in Arrow Electronics by 0.9% during the 2nd quarter. People s United Financial Inc. now owns 22,754 shares of the technology company’s stock valued at $1,785,000 after buying an additional 206 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in Arrow Electronics by 0.9% during the 2nd quarter. Pictet Asset Management Ltd. now owns 34,800 shares of the technology company’s stock valued at $2,631,000 after buying an additional 300 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Arrow Electronics by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,786 shares of the technology company’s stock valued at $3,276,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 92.72% of the company’s stock.
A number of equities research analysts have recently issued reports on ARW shares. Zacks Investment Research downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective on shares of Arrow Electronics in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $83.25.
Shares of Arrow Electronics, Inc. (ARW) opened at $78.36 on Wednesday. Arrow Electronics, Inc. has a 1 year low of $68.55 and a 1 year high of $84.53. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $6,888.29, a price-to-earnings ratio of 11.09, a PEG ratio of 0.93 and a beta of 1.18.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts forecast that Arrow Electronics, Inc. will post 7.35 earnings per share for the current year.
In related news, SVP Matthew R. Anderson sold 1,416 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.00, for a total value of $111,864.00. Following the completion of the transaction, the senior vice president now owns 1,416 shares of the company’s stock, valued at approximately $111,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sean J. Kerins sold 3,816 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total transaction of $300,967.92. Following the completion of the transaction, the insider now directly owns 25,552 shares of the company’s stock, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,032 shares of company stock valued at $788,816. Insiders own 1.20% of the company’s stock.
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Arrow Electronics 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 various electronic components and enterprise computing solutions suppliers.
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