Arrow Electronics, Inc. (ARW) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,315 shares of the technology company’s stock after buying an additional 7,578 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of Arrow Electronics worth $6,539,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Csenge Advisory Group purchased a new position in Arrow Electronics in the third quarter valued at about $291,000. Legal & General Group Plc increased its holdings in Arrow Electronics by 5.1% in the second quarter. Legal & General Group Plc now owns 544,809 shares of the technology company’s stock valued at $42,725,000 after buying an additional 26,591 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Arrow Electronics by 14.8% in the second quarter. Pacer Advisors Inc. now owns 12,812 shares of the technology company’s stock valued at $1,005,000 after buying an additional 1,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Arrow Electronics in the second quarter valued at about $273,000. Finally, Principal Financial Group Inc. increased its holdings in Arrow Electronics by 38.0% in the second quarter. Principal Financial Group Inc. now owns 504,821 shares of the technology company’s stock valued at $39,589,000 after buying an additional 139,019 shares in the last quarter. 90.51% of the stock is owned by institutional investors.
A number of research analysts have issued reports on ARW shares. BidaskClub cut shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $81.00 target price (up from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price on shares of Arrow Electronics in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $83.25.
Shares of Arrow Electronics, Inc. (NYSE ARW) opened at $77.63 on Monday. The company has a market cap of $6,829.34, a P/E ratio of 11.00, a PEG ratio of 0.92 and a beta of 1.20. Arrow Electronics, Inc. has a 1 year low of $65.51 and a 1 year high of $84.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.58 and a quick ratio of 1.13.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.58 billion. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 earnings per share. sell-side analysts predict that Arrow Electronics, Inc. will post 7.35 EPS for the current fiscal year.
In related 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 sale, the insider now owns 26,213 shares in the company, valued at $2,022,595.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gail Hamilton sold 4,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $78.33, for a total transaction of $375,984.00. Following the sale, the director now owns 91 shares in the company, valued at approximately $7,128.03. The disclosure for this sale can be found here. Insiders sold 10,693 shares of company stock worth $833,293 over the last quarter. Company insiders own 1.20% of the company’s stock.
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 various electronic components and enterprise computing solutions suppliers.
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