NEXT Financial Group Inc Has $172,000 Position in Arrow Electronics, Inc. (NYSE:ARW)
NEXT Financial Group Inc raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 776.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,190 shares of the technology company’s stock after buying an additional 1,940 shares during the period. NEXT Financial Group Inc’s holdings in Arrow Electronics were worth $172,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Arrow Electronics by 4,788.3% in the first quarter. BlackRock Inc. now owns 8,306,456 shares of the technology company’s stock worth $609,777,000 after buying an additional 8,136,530 shares during the period. LSV Asset Management boosted its stake in Arrow Electronics by 248.2% in the first quarter. LSV Asset Management now owns 1,894,022 shares of the technology company’s stock worth $139,040,000 after buying an additional 1,350,020 shares during the period. Norges Bank acquired a new stake in Arrow Electronics during the fourth quarter worth $68,623,000. Boston Partners boosted its stake in Arrow Electronics by 8.1% in the first quarter. Boston Partners now owns 5,864,925 shares of the technology company’s stock worth $430,544,000 after buying an additional 437,908 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Arrow Electronics by 7.3% in the first quarter. Wellington Management Group LLP now owns 6,069,251 shares of the technology company’s stock worth $445,543,000 after buying an additional 415,098 shares during the period. 94.45% of the stock is currently owned by institutional investors.
Arrow Electronics, Inc. (ARW) traded down 1.24% on Tuesday, hitting $77.89. 557,862 shares of the company were exchanged. The stock has a 50 day moving average price of $80.08 and a 200 day moving average price of $75.23. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 13.42 and a beta of 1.13. Arrow Electronics, Inc. has a one year low of $58.52 and a one year high of $84.53.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The company had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the business earned $1.65 earnings per share. Arrow Electronics’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Arrow Electronics, Inc. will post $7.27 EPS for the current fiscal year.
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A number of equities research analysts have recently weighed in on ARW shares. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday, April 11th. Stifel Nicolaus lifted their price target on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, BidaskClub lowered shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Arrow Electronics has an average rating of “Buy” and a consensus target price of $76.40.
In related news, insider Vincent P. Melvin sold 5,760 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.79, for a total value of $436,550.40. Following the transaction, the insider now directly owns 22,213 shares in the company, valued at $1,683,523.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Catherine Morris sold 9,692 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $75.07, for a total transaction of $727,578.44. Following the completion of the transaction, the insider now owns 21,570 shares in the company, valued at $1,619,259.90. The disclosure for this sale can be found here. Insiders have sold 18,452 shares of company stock worth $1,392,099 over the last quarter. 1.20% of the stock is owned by company insiders.
Arrow Electronics Company Profile
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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