World Asset Management Inc lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,804 shares of the technology company’s stock after selling 229 shares during the period. World Asset Management Inc’s holdings in Arrow Electronics were worth $534,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Arrow Electronics by 70.4% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock worth $328,000 after buying an additional 1,900 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Arrow Electronics by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 31,061 shares of the technology company’s stock valued at $2,280,000 after buying an additional 520 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Arrow Electronics by 0.9% in the first quarter. Bank of Montreal Can now owns 20,373 shares of the technology company’s stock valued at $1,495,000 after buying an additional 181 shares in the last quarter. Regentatlantic Capital LLC increased its stake in shares of Arrow Electronics by 5.3% in the first quarter. Regentatlantic Capital LLC now owns 42,843 shares of the technology company’s stock valued at $3,145,000 after buying an additional 2,144 shares in the last quarter. Finally, CrestPoint Capital Management LLC increased its stake in shares of Arrow Electronics by 2.1% in the first quarter. CrestPoint Capital Management LLC now owns 9,800 shares of the technology company’s stock valued at $719,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Arrow Electronics, Inc. (NYSE:ARW) opened at 77.14 on Thursday. Arrow Electronics, Inc. has a 52 week low of $58.52 and a 52 week high of $84.53. The firm has a market cap of $6.85 billion, a P/E ratio of 13.29 and a beta of 1.13. The company’s 50 day moving average is $80.11 and its 200-day moving average is $75.35.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the business posted $1.65 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Arrow Electronics, Inc. will post $7.27 earnings per share for the current year.

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Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their price target on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub cut Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a report on Wednesday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.17.

In other news, insider Sean J. Kerins sold 3,000 shares of Arrow Electronics stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $75.99, for a total value of $227,970.00. Following the completion of the transaction, the insider now directly owns 21,736 shares of the company’s stock, valued at approximately $1,651,718.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Catherine Morris sold 9,692 shares of Arrow Electronics stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $75.07, for a total transaction of $727,578.44. Following the completion of the transaction, the insider now directly owns 21,570 shares of the company’s stock, valued at $1,619,259.90. The disclosure for this sale can be found here. Insiders sold a total of 18,452 shares of company stock valued at $1,392,099 over the last ninety days. Company insiders own 1.20% of the company’s stock.

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

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