GMT Capital Corp Has $106.09 Million Position in Arrow Electronics, Inc. (ARW)
GMT Capital Corp cut its stake in Arrow Electronics, Inc. (NYSE:ARW) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,319,400 shares of the technology company’s stock after selling 61,500 shares during the period. Arrow Electronics comprises approximately 2.3% of GMT Capital Corp’s portfolio, making the stock its 12th largest position. GMT Capital Corp owned approximately 1.50% of Arrow Electronics worth $106,093,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ARW. Mn Services Vermogensbeheer B.V. lifted its position in Arrow Electronics by 510.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,280 shares of the technology company’s stock valued at $1,120,000 after acquiring an additional 11,940 shares during the last quarter. Aperio Group LLC lifted its position in Arrow Electronics by 10.8% in the second quarter. Aperio Group LLC now owns 100,489 shares of the technology company’s stock valued at $7,880,000 after acquiring an additional 9,823 shares during the last quarter. State Treasurer State of Michigan lifted its position in Arrow Electronics by 1.4% in the second quarter. State Treasurer State of Michigan now owns 36,662 shares of the technology company’s stock valued at $2,875,000 after acquiring an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Arrow Electronics by 29.5% in the second quarter. First Citizens Bank & Trust Co. now owns 6,938 shares of the technology company’s stock valued at $544,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Breton Hill Capital Ltd. raised its holdings in shares of Arrow Electronics by 2.6% in the second quarter. Breton Hill Capital Ltd. now owns 3,900 shares of the technology company’s stock valued at $306,000 after buying an additional 100 shares during the last quarter. 90.51% of the stock is owned by hedge funds and other institutional investors.
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ARW has been the subject of a number of research reports. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Thursday, August 24th. 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. BidaskClub cut shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Arrow Electronics has a consensus rating of “Hold” and an average price target of $83.25.
Shares of Arrow Electronics, Inc. (ARW) opened at $78.68 on Friday. Arrow Electronics, Inc. has a 1-year low of $66.67 and a 1-year high of $84.53. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $6,921.72, a PE ratio of 11.14, a PEG ratio of 0.94 and a beta of 1.20.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, November 2nd. The technology company reported $1.82 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 business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. sell-side analysts anticipate that Arrow Electronics, Inc. will post 7.35 EPS for the current fiscal year.
In related news, Director Gail Hamilton sold 4,800 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $78.33, for a total transaction of $375,984.00. Following the completion of the transaction, the director now directly owns 91 shares of the company’s stock, valued at $7,128.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean J. Kerins sold 3,816 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total transaction of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares of the company’s stock, valued at $2,015,286.24. The disclosure for this sale can be found here. Insiders sold 10,032 shares of company stock valued at $788,816 over the last ninety days. Corporate 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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