Xact Kapitalforvaltning AB held its stake in Arrow Electronics, Inc. (NYSE:ARW) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,718 shares of the technology company’s stock at the end of the second quarter. Xact Kapitalforvaltning AB’s holdings in Arrow Electronics were worth $1,389,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC increased its stake in Arrow Electronics by 3.6% in the first quarter. Reilly Financial Advisors LLC now owns 112,584 shares of the technology company’s stock valued at $8,265,000 after buying an additional 3,865 shares during the last quarter. Regentatlantic Capital LLC increased its position 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 worth $3,145,000 after buying an additional 2,144 shares in the last quarter. Morgan Stanley increased its position in shares of Arrow Electronics by 97.5% in the first quarter. Morgan Stanley now owns 441,079 shares of the technology company’s stock worth $32,380,000 after buying an additional 217,695 shares in the last quarter. Elkfork Partners LLC increased its position in shares of Arrow Electronics by 59.6% in the first quarter. Elkfork Partners LLC now owns 9,656 shares of the technology company’s stock worth $709,000 after buying an additional 3,604 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Arrow Electronics by 25.4% in the first quarter. Swiss National Bank now owns 317,348 shares of the technology company’s stock worth $23,297,000 after buying an additional 64,300 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Arrow Electronics, Inc. (NYSE:ARW) traded down 0.15% on Friday, reaching $75.30. The company had a trading volume of 294,289 shares. The company has a market capitalization of $6.65 billion, a PE ratio of 13.77 and a beta of 1.13. Arrow Electronics, Inc. has a 52-week low of $58.52 and a 52-week high of $84.53. The company’s 50-day moving average is $80.06 and its 200-day moving average is $75.35.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s 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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A number of equities research analysts have recently weighed in on ARW shares. BidaskClub lowered Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Wednesday, July 19th. Stifel Nicolaus upped their price objective on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $81.00 price objective (up previously from $76.00) on shares of Arrow Electronics in a research report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $77.17.
In other Arrow Electronics news, insider Mary Catherine Morris sold 9,692 shares of the firm’s 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 owns 21,570 shares in the company, valued at $1,619,259.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean J. Kerins sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.99, for a total transaction of $227,970.00. Following the transaction, the insider now owns 21,736 shares of the company’s stock, valued at approximately $1,651,718.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,452 shares of company stock worth $1,392,099. 1.20% of the stock is currently owned by company insiders.
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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