Financial Gravity Companies Inc. Invests $160,000 in Arrow Electronics, Inc. (ARW)
Financial Gravity Companies Inc. bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,961 shares of the technology company’s stock, valued at approximately $160,000.
Several other large investors have also added to or reduced their stakes in ARW. BlackRock Inc. grew its holdings in Arrow Electronics by 1.8% during the 4th quarter. BlackRock Inc. now owns 8,300,258 shares of the technology company’s stock valued at $667,422,000 after buying an additional 150,230 shares in the last quarter. Boston Partners grew its holdings in Arrow Electronics by 0.7% during the 3rd quarter. Boston Partners now owns 5,921,683 shares of the technology company’s stock valued at $476,163,000 after buying an additional 41,711 shares in the last quarter. Longview Partners Guernsey LTD grew its holdings in Arrow Electronics by 0.6% during the 4th quarter. Longview Partners Guernsey LTD now owns 2,953,321 shares of the technology company’s stock valued at $237,477,000 after buying an additional 17,217 shares in the last quarter. LSV Asset Management grew its holdings in Arrow Electronics by 0.9% during the 4th quarter. LSV Asset Management now owns 2,264,525 shares of the technology company’s stock valued at $182,090,000 after buying an additional 19,185 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in Arrow Electronics by 158.8% during the 4th quarter. Cooke & Bieler LP now owns 1,372,083 shares of the technology company’s stock valued at $110,330,000 after buying an additional 842,003 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.
In other news, Chairman Michael J. Long sold 50,988 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $82.93, for a total value of $4,228,434.84. Following the completion of the sale, the chairman now directly owns 438,636 shares of the company’s stock, valued at approximately $36,376,083.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Catherine Morris sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $82.43, for a total value of $292,214.35. Following the completion of the sale, the insider now directly owns 20,742 shares of the company’s stock, valued at $1,709,763.06. The disclosure for this sale can be found here. Insiders sold a total of 59,113 shares of company stock valued at $4,898,398 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.21. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the company earned $2.00 EPS. sell-side analysts predict that Arrow Electronics, Inc. will post 8.47 earnings per share for the current fiscal year.
Several research firms have weighed in on ARW. Pivotal Research began coverage on Arrow Electronics in a report on Tuesday, February 13th. They set a “buy” rating and a $98.00 price target for the company. Raymond James Financial raised Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price objective for the company in a research note on Monday, February 12th. Finally, Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Arrow Electronics currently has a consensus rating of “Buy” and a consensus price target of $89.80.
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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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