Robeco Institutional Asset Management B.V. increased its position in shares of Arrow Electronics Inc. (NYSE:ARW) by 36.1% during the second quarter, Holdings Channel reports. The fund owned 23,529 shares of the company’s stock after buying an additional 6,238 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Arrow Electronics were worth $1,456,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ARW. Weaver C. Barksdale & Associates Inc. raised its stake in shares of Arrow Electronics by 8.9% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,679 shares of the company’s stock worth $104,000 after buying an additional 137 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Arrow Electronics during the first quarter worth $277,000. Balasa Dinverno & Foltz LLC bought a new stake in shares of Arrow Electronics during the second quarter worth $275,000. Parametrica Management Ltd bought a new stake in shares of Arrow Electronics during the second quarter worth $326,000. Finally, Pacad Investment Ltd. raised its stake in shares of Arrow Electronics by 21.0% in the first quarter. Pacad Investment Ltd. now owns 7,500 shares of the company’s stock worth $483,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 93.67% of the company’s stock.
Shares of Arrow Electronics Inc. (NYSE:ARW) traded down 1.64% on Friday, hitting $63.67. 388,748 shares of the stock were exchanged. The stock has a market cap of $5.81 billion, a PE ratio of 11.73 and a beta of 1.48. The company’s 50 day moving average is $64.90 and its 200-day moving average is $63.82. Arrow Electronics Inc. has a 52-week low of $45.23 and a 52-week high of $68.07.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.01. Arrow Electronics had a net margin of 2.13% and a return on equity of 13.94%. The firm earned $5.97 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Arrow Electronics’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts predict that Arrow Electronics Inc. will post $6.65 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Citigroup Inc. lifted their price objective on shares of Arrow Electronics from $48.00 to $57.00 and gave the company a “sell” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, July 5th. Goldman Sachs Group Inc. lowered shares of Arrow Electronics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $72.00 to $63.00 in a report on Tuesday, September 20th. Brean Capital set a $70.00 price objective on shares of Arrow Electronics and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, SunTrust Banks Inc. reiterated a “buy” rating on shares of Arrow Electronics in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.33.
In related news, insider Vincent P. Melvin sold 2,531 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $66.39, for a total value of $168,033.09. Following the completion of the sale, the insider now owns 17,149 shares of the company’s stock, valued at $1,138,522.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Gregory Tarpinian sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $66.40, for a total transaction of $66,400.00. Following the completion of the sale, the general counsel now directly owns 6,099 shares of the company’s stock, valued at approximately $404,973.60. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate 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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.
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