Longview Partners Guernsey LTD Trims Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Longview Partners Guernsey LTD lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,142,258 shares of the technology company’s stock after selling 208,092 shares during the quarter. Arrow Electronics makes up approximately 1.3% of Longview Partners Guernsey LTD’s holdings, making the stock its 23rd biggest position. Longview Partners Guernsey LTD owned about 2.98% of Arrow Electronics worth $243,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARW. Rockefeller Capital Management L.P. increased its position in shares of Arrow Electronics by 303.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 246 shares of the technology company’s stock valued at $27,000 after purchasing an additional 185 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Arrow Electronics by 44.1% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 317 shares of the technology company’s stock valued at $36,000 after purchasing an additional 97 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Arrow Electronics by 51.2% during the 1st quarter. Lazard Asset Management LLC now owns 381 shares of the technology company’s stock valued at $42,000 after acquiring an additional 129 shares during the period. Advisory Services Network LLC bought a new position in shares of Arrow Electronics during the 2nd quarter valued at approximately $49,000. Finally, Van ECK Associates Corp grew its stake in shares of Arrow Electronics by 137.7% during the 2nd quarter. Van ECK Associates Corp now owns 435 shares of the technology company’s stock valued at $50,000 after acquiring an additional 252 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:ARW traded up $3.70 during mid-day trading on Thursday, reaching $117.94. 2,971 shares of the company traded hands, compared to its average volume of 486,233. The company’s 50 day moving average price is $116.41 and its 200-day moving average price is $116.17. The firm has a market cap of $8.47 billion, a PE ratio of 10.24, a PEG ratio of 0.34 and a beta of 1.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.44 and a quick ratio of 1.04. Arrow Electronics, Inc. has a 52 week low of $76.46 and a 52 week high of $124.76.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 5th. The technology company reported $3.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.38. Arrow Electronics had a return on equity of 17.03% and a net margin of 2.60%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the company posted $1.59 EPS. The firm’s revenue was up 29.6% on a year-over-year basis. On average, research analysts predict that Arrow Electronics, Inc. will post 13.51 earnings per share for the current fiscal year.

Arrow Electronics declared that its board has approved a share repurchase plan on Thursday, August 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Separately, Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Tuesday, August 10th.

In other Arrow Electronics news, SVP Gretchen Zech sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $122.91, for a total value of $983,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher Stansbury sold 11,238 shares of the company’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $121.43, for a total value of $1,364,630.34. Following the completion of the transaction, the chief financial officer now owns 19,161 shares of the company’s stock, valued at $2,326,720.23. The disclosure for this sale can be found here. Insiders sold a total of 35,929 shares of company stock valued at $4,331,764 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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