Spark Investment Management LLC Decreases Stake in Arrow Electronics, Inc. (ARW)
Spark Investment Management LLC decreased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,840 shares of the technology company’s stock after selling 300 shares during the period. Spark Investment Management LLC’s holdings in Arrow Electronics were worth $301,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ARW. NEXT Financial Group Inc raised its stake in Arrow Electronics by 776.0% in the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock valued at $172,000 after buying an additional 1,940 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock valued at $188,000 after buying an additional 255 shares in the last quarter. Nordea Investment Management AB raised its stake in Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock valued at $197,000 after buying an additional 1,248 shares in the last quarter. Advisor Partners LLC bought a new stake in Arrow Electronics during the first quarter valued at $200,000. Finally, Parametrica Management Ltd bought a new stake in Arrow Electronics during the first quarter valued at $208,000. 95.07% of the stock is owned by institutional investors and hedge funds.
Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at 76.43 on Tuesday. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 13.98 and a beta of 1.13. Arrow Electronics, Inc. has a 12-month low of $58.51 and a 12-month high of $84.53. The stock has a 50 day moving average price of $79.92 and a 200-day moving average price of $75.42.
Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The firm had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the business earned $1.65 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Arrow Electronics, Inc. will post $7.32 EPS for the current fiscal year.
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ARW has been the subject of several research reports. BidaskClub lowered Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Wednesday, July 19th. Stifel Nicolaus raised their price objective on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Arrow Electronics has a consensus rating of “Buy” and a consensus target price of $77.17.
In other Arrow Electronics news, Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction on Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the sale, the chairman now owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mary Catherine Morris sold 9,692 shares of Arrow Electronics stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $75.07, for a total transaction of $727,578.44. Following the sale, the insider now directly owns 21,570 shares of the company’s stock, valued at approximately $1,619,259.90. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
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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