Mary Catherine Morris Sells 8,000 Shares of Arrow Electronics Inc. (ARW) Stock
Arrow Electronics Inc. (NYSE:ARW) insider Mary Catherine Morris sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $67.78, for a total value of $542,240.00. Following the completion of the sale, the insider now owns 22,166 shares in the company, valued at approximately $1,502,411.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Arrow Electronics Inc. (NYSE:ARW) opened at 68.40 on Wednesday. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.29 and a beta of 1.23. The company’s 50 day moving average price is $63.24 and its 200-day moving average price is $64.13. Arrow Electronics Inc. has a 12-month low of $45.23 and a 12-month high of $68.94.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.05. The company earned $5.94 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Arrow Electronics had a return on equity of 13.95% and a net margin of 2.14%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 earnings per share. On average, equities analysts anticipate that Arrow Electronics Inc. will post $6.63 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Arrow Electronics by 8.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 30,333 shares of the company’s stock valued at $1,940,000 after buying an additional 2,350 shares during the period. Ameritas Investment Partners Inc. boosted its position in Arrow Electronics by 201.6% in the third quarter. Ameritas Investment Partners Inc. now owns 43,703 shares of the company’s stock valued at $2,795,000 after buying an additional 29,214 shares during the last quarter. Robecosam AG boosted its position in Arrow Electronics by 70.0% in the third quarter. Robecosam AG now owns 3,400 shares of the company’s stock valued at $215,000 after buying an additional 1,400 shares during the last quarter. Dean Investment Associates LLC boosted its position in Arrow Electronics by 1.3% in the third quarter. Dean Investment Associates LLC now owns 7,904 shares of the company’s stock valued at $506,000 after buying an additional 100 shares during the last quarter. Finally, Gerstein Fisher boosted its position in Arrow Electronics by 1.2% in the third quarter. Gerstein Fisher now owns 22,232 shares of the company’s stock valued at $1,422,000 after buying an additional 260 shares during the last quarter. Institutional investors own 95.26% of the company’s stock.
A number of equities research analysts have recently issued reports on ARW shares. reiterated an “outperform” rating on shares of Arrow Electronics in a research note on Friday, November 4th. Brean Capital set a $70.00 price objective on Arrow Electronics and gave the stock a “buy” rating in a research note on Sunday, November 6th. Goldman Sachs Group Inc. cut Arrow Electronics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $63.00 in a research note on Tuesday, September 20th. Finally, Citigroup Inc. upped their price objective on Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Arrow Electronics currently has a consensus rating of “Hold” and a consensus price target of $63.33.
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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