Shares of Arrow Electronics Inc. (NYSE:ARW) have been given an average rating of “Hold” by the eight research firms that are covering the firm. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $62.20.

ARW has been the subject of a number of recent analyst reports. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Arrow Electronics in a report on Saturday, June 25th. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, July 5th. Goldman Sachs Group Inc. downgraded Arrow Electronics from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, July 7th. Brean Capital set a $70.00 price target on Arrow Electronics and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. lifted their price target on Arrow Electronics from $48.00 to $57.00 and gave the company a “sell” rating in a research report on Wednesday, August 3rd.

In related news, Chairman Michael J. Long sold 44,777 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $66.35, for a total value of $2,970,953.95. Following the completion of the sale, the chairman now owns 308,393 shares in the company, valued at approximately $20,461,875.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vincent P. Melvin sold 2,531 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was 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 approximately $1,138,522.11. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ARW. AQR Capital Management LLC increased its stake in Arrow Electronics by 37.3% in the second quarter. AQR Capital Management LLC now owns 1,883,997 shares of the company’s stock worth $116,619,000 after buying an additional 511,638 shares during the last quarter. Boston Partners increased its stake in shares of Arrow Electronics by 6.6% in the second quarter. Boston Partners now owns 5,826,500 shares of the company’s stock valued at $360,660,000 after buying an additional 358,680 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arrow Electronics by 41.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,037,103 shares of the company’s stock valued at $66,800,000 after buying an additional 304,909 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Arrow Electronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,978,768 shares of the company’s stock valued at $431,986,000 after buying an additional 280,549 shares during the last quarter. Finally, James Investment Research Inc. increased its stake in shares of Arrow Electronics by 56.5% in the second quarter. James Investment Research Inc. now owns 589,284 shares of the company’s stock valued at $36,476,000 after buying an additional 212,808 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.

Arrow Electronics (NYSE:ARW) opened at 62.41 on Tuesday. The stock has a 50 day moving average price of $63.79 and a 200 day moving average price of $63.99. Arrow Electronics has a 1-year low of $45.23 and a 1-year high of $68.07. The firm has a market cap of $5.70 billion, a P/E ratio of 11.50 and a beta of 1.49.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, August 2nd. The company reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.01. The business earned $5.97 billion during the quarter, compared to analyst estimates of $6.04 billion. Arrow Electronics had a return on equity of 13.94% and a net margin of 2.13%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. On average, analysts anticipate that Arrow Electronics will post $6.65 EPS for the current year.

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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

5 Day Chart for NYSE:ARW

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