Janney Montgomery Scott LLC reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 51.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,902 shares of the technology company’s stock after selling 6,286 shares during the period. Janney Montgomery Scott LLC’s holdings in Arrow Electronics were worth $475,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ARW. Thrivent Financial For Lutherans boosted its position in shares of Arrow Electronics by 2,948.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 513,673 shares of the technology company’s stock worth $40,283,000 after buying an additional 496,823 shares in the last quarter. Earnest Partners LLC purchased a new stake in shares of Arrow Electronics in the 3rd quarter worth about $32,587,000. LSV Asset Management boosted its position in shares of Arrow Electronics by 13.1% in the 2nd quarter. LSV Asset Management now owns 2,142,395 shares of the technology company’s stock worth $168,006,000 after buying an additional 248,373 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Arrow Electronics by 57.9% in the 2nd quarter. Prudential Financial Inc. now owns 465,233 shares of the technology company’s stock worth $36,483,000 after buying an additional 170,570 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Arrow Electronics by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,643,715 shares of the technology company’s stock worth $599,421,000 after buying an additional 164,059 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.
Arrow Electronics, Inc. (NYSE ARW) opened at $79.78 on Wednesday. Arrow Electronics, Inc. has a one year low of $68.55 and a one year high of $84.53. The firm has a market cap of $7,073.03, a PE ratio of 14.05, a P/E/G ratio of 0.96 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.57.
In other news, Director Gail Hamilton sold 4,800 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $78.33, for a total transaction of $375,984.00. Following the completion of the transaction, the director now owns 91 shares of the company’s stock, valued at approximately $7,128.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sean J. Kerins sold 3,816 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total transaction of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares of the company’s stock, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. Insiders sold a total of 10,032 shares of company stock valued at $788,816 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Several research firms recently commented on ARW. Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 target price on shares of Arrow Electronics in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $83.25.
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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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