Insider Selling: Arrow Electronics, Inc. (ARW) Insider Sells 4,477 Shares of Stock
Arrow Electronics, Inc. (NYSE:ARW) insider Sean J. Kerins sold 4,477 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.16, for a total value of $345,445.32. Following the completion of the sale, the insider now directly owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Arrow Electronics, Inc. (NYSE:ARW) traded down 0.097% on Monday, reaching $76.855. The company had a trading volume of 19,474 shares. The firm has a market capitalization of $6.78 billion, a PE ratio of 14.053 and a beta of 1.13. The company has a 50-day moving average price of $79.07 and a 200-day moving average price of $75.52. Arrow Electronics, Inc. has a 52-week low of $58.52 and a 52-week high of $84.53.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Equities research analysts forecast that Arrow Electronics, Inc. will post $7.32 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on ARW shares. Stifel Nicolaus upped their target price on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Zacks Investment Research downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub downgraded Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Arrow Electronics has a consensus rating of “Hold” and a consensus price target of $76.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Partners LLC boosted its position in Arrow Electronics by 2.6% in the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock valued at $220,000 after buying an additional 71 shares in the last quarter. Breton Hill Capital Ltd. boosted its position in Arrow Electronics by 2.6% in the second quarter. Breton Hill Capital Ltd. now owns 3,900 shares of the technology company’s stock valued at $306,000 after buying an additional 100 shares in the last quarter. Synovus Financial Corp boosted its position in Arrow Electronics by 2.9% in the second quarter. Synovus Financial Corp now owns 4,541 shares of the technology company’s stock valued at $353,000 after buying an additional 126 shares in the last quarter. M&T Bank Corp boosted its position in Arrow Electronics by 2.1% in the second quarter. M&T Bank Corp now owns 6,471 shares of the technology company’s stock valued at $507,000 after buying an additional 136 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in Arrow Electronics by 1.9% in the first quarter. Suntrust Banks Inc. now owns 7,459 shares of the technology company’s stock valued at $547,000 after buying an additional 140 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.
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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