Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 14.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,490 shares of the technology company’s stock after purchasing an additional 3,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Arrow Electronics were worth $1,901,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. River Wealth Advisors LLC grew its position in Arrow Electronics by 2.6% during the third quarter. River Wealth Advisors LLC now owns 40,969 shares of the technology company’s stock worth $3,055,000 after buying an additional 1,039 shares in the last quarter. Pegasus Partners Ltd. grew its position in Arrow Electronics by 105.4% during the third quarter. Pegasus Partners Ltd. now owns 17,398 shares of the technology company’s stock worth $1,298,000 after buying an additional 8,928 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Arrow Electronics during the third quarter worth about $5,377,000. World Asset Management Inc grew its position in Arrow Electronics by 3.5% during the third quarter. World Asset Management Inc now owns 7,507 shares of the technology company’s stock worth $560,000 after buying an additional 257 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its position in Arrow Electronics by 0.3% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 61,252 shares of the technology company’s stock worth $4,568,000 after buying an additional 190 shares in the last quarter. 94.23% of the stock is currently owned by institutional investors.
In other news, insider Charles Kostalnick II sold 3,200 shares of Arrow Electronics stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $68.11, for a total value of $217,952.00. Following the completion of the transaction, the insider now owns 8,214 shares in the company, valued at $559,455.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher Stansbury sold 57,550 shares of Arrow Electronics stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the completion of the transaction, the chief financial officer now owns 32,481 shares of the company’s stock, valued at approximately $2,236,966.47. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.19. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Arrow Electronics had a negative net margin of 0.29% and a positive return on equity of 13.21%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 earnings per share. Equities research analysts expect that Arrow Electronics, Inc. will post 7.45 EPS for the current fiscal year.
A number of research firms recently weighed in on ARW. TheStreet downgraded Arrow Electronics from a “b-” rating to a “c” rating in a research report on Friday, August 2nd. SunTrust Banks lifted their target price on Arrow Electronics from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Monday. Stifel Nicolaus set a $75.00 target price on Arrow Electronics and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America set a $70.00 target price on Arrow Electronics and gave the stock a “sell” rating in a research report on Friday, November 1st. Finally, Raymond James restated a “buy” rating and set a $87.00 price target (up previously from $80.00) on shares of Arrow Electronics in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.86.
About Arrow Electronics
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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