Insider Selling: Arrow Electronics Inc. (ARW) Insider Sells $248,000.00 in Stock
Arrow Electronics Inc. (NYSE:ARW) insider Sean J. Kerins sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $62.00, for a total transaction of $248,000.00. Following the completion of the transaction, the insider now owns 20,609 shares of the company’s stock, valued at approximately $1,277,758. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Arrow Electronics Inc. (NYSE:ARW) opened at 65.11 on Tuesday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 11.70 and a beta of 1.23. The company’s 50-day moving average is $62.41 and its 200 day moving average is $63.66. Arrow Electronics Inc. has a 1-year low of $45.23 and a 1-year high of $68.07.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, November 3rd. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. The company earned $5.94 billion during the quarter, compared to the consensus estimate of $5.86 billion. Arrow Electronics had a net margin of 2.14% and a return on equity of 13.95%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. On average, analysts expect that Arrow Electronics Inc. will post $6.63 EPS for the current fiscal year.
A number of brokerages have recently weighed in on ARW. Brean Capital set a $70.00 price target on shares of Arrow Electronics and gave the stock a “buy” rating in a research note on Sunday, November 6th. Credit Agricole SA reaffirmed an “outperform” rating on shares of Arrow Electronics in a research note on Friday, November 4th. Goldman Sachs Group Inc. lowered shares of Arrow Electronics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $72.00 to $63.00 in a research note on Tuesday, September 20th. Finally, Citigroup Inc. upped their price target on shares of Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Arrow Electronics presently has a consensus rating of “Hold” and a consensus price target of $63.33.
Several institutional investors have recently added to or reduced their stakes in the company. Weaver C. Barksdale & Associates Inc. increased its position in Arrow Electronics by 8.9% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,679 shares of the company’s stock worth $104,000 after buying an additional 137 shares during the last quarter. Robecosam AG boosted its stake in shares of Arrow Electronics by 42.9% in the second quarter. Robecosam AG now owns 2,000 shares of the company’s stock worth $121,000 after buying an additional 600 shares during the period. Seven Eight Capital LLC boosted its stake in shares of Arrow Electronics by 154.5% in the second quarter. Seven Eight Capital LLC now owns 2,800 shares of the company’s stock worth $173,000 after buying an additional 1,700 shares during the period. Invictus RG purchased a new stake in shares of Arrow Electronics during the second quarter worth about $183,000. Finally, Stifel Financial Corp purchased a new stake in shares of Arrow Electronics during the second quarter worth about $234,000. 93.21% of the stock is owned by institutional investors.
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.
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