Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant decrease in short interest during the month of October. As of October 13th, there was short interest totalling 800,659 shares, a decrease of 31.6% from the September 29th total of 1,170,710 shares. Based on an average daily volume of 446,908 shares, the short-interest ratio is currently 1.8 days. Currently, 0.9% of the company’s shares are short sold.
In other news, Chairman Michael J. Long sold 20,910 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.01, for a total value of $1,589,369.10. Following the transaction, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean J. Kerins sold 4,477 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.16, for a total transaction of $345,445.32. Following the completion of the transaction, the insider now owns 26,213 shares in the company, valued at $2,022,595.08. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. FDx Advisors Inc. grew its holdings in Arrow Electronics by 23.0% in the 3rd quarter. FDx Advisors Inc. now owns 20,712 shares of the technology company’s stock worth $1,665,000 after acquiring an additional 3,876 shares during the last quarter. Swiss National Bank grew its holdings in Arrow Electronics by 1.0% in the 3rd quarter. Swiss National Bank now owns 327,248 shares of the technology company’s stock worth $26,314,000 after acquiring an additional 3,100 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in Arrow Electronics in the 3rd quarter worth $479,000. Boston Partners grew its holdings in Arrow Electronics by 0.7% in the 3rd quarter. Boston Partners now owns 5,921,683 shares of the technology company’s stock worth $476,163,000 after acquiring an additional 41,711 shares during the last quarter. Finally, New Amsterdam Partners LLC NY grew its holdings in Arrow Electronics by 43.0% in the 3rd quarter. New Amsterdam Partners LLC NY now owns 60,255 shares of the technology company’s stock worth $4,845,000 after acquiring an additional 18,123 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on ARW. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 price target on shares of Arrow Electronics in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.60.
Arrow Electronics (ARW) opened at $78.17 on Friday. Arrow Electronics has a 1-year low of $58.51 and a 1-year high of $84.53. The company has a current ratio of 1.58, a quick ratio of 1.11 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6.90 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.58 billion. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. equities analysts anticipate that Arrow Electronics will post 7.31 earnings per share for the current year.
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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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