Arrow Electronics, Inc. (ARW) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 14.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,812 shares of the technology company’s stock after buying an additional 1,650 shares during the period. Pacer Advisors Inc.’s holdings in Arrow Electronics were worth $1,005,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its position in Arrow Electronics by 97.5% in the first quarter. Morgan Stanley now owns 441,079 shares of the technology company’s stock valued at $32,380,000 after buying an additional 217,695 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Arrow Electronics by 59.6% in the first quarter. Elkfork Partners LLC now owns 9,656 shares of the technology company’s stock valued at $709,000 after buying an additional 3,604 shares during the last quarter. Swiss National Bank raised its stake in shares of Arrow Electronics by 25.4% in the first quarter. Swiss National Bank now owns 317,348 shares of the technology company’s stock valued at $23,297,000 after buying an additional 64,300 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Arrow Electronics during the first quarter valued at about $2,423,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Arrow Electronics by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 57,449 shares of the technology company’s stock valued at $4,217,000 after buying an additional 200 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.
Arrow Electronics, Inc. (NYSE:ARW) opened at 77.31 on Wednesday. The firm has a 50-day moving average price of $79.07 and a 200-day moving average price of $75.52. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 14.14 and a beta of 1.13. Arrow Electronics, Inc. has a 52 week low of $58.51 and a 52 week high of $84.53.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.01. The company had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. Arrow Electronics’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. Analysts anticipate that Arrow Electronics, Inc. will post $7.32 EPS for the current fiscal year.
Several analysts have issued reports on the company. BidaskClub lowered Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Wednesday, July 19th. Deutsche Bank AG restated a “hold” rating and issued a $81.00 target price (up from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus boosted their target price on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $76.00.
In other news, insider Sean J. Kerins sold 4,477 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the completion of the sale, the insider now owns 26,213 shares in the company, valued at approximately $2,022,595.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael J. Long sold 20,910 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the sale, the chairman now owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
About Arrow Electronics
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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