Legal & General Group Plc increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 544,809 shares of the technology company’s stock after buying an additional 26,591 shares during the period. Legal & General Group Plc owned 0.61% of Arrow Electronics worth $42,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board raised its position in Arrow Electronics by 20.8% in the second quarter. State of Wisconsin Investment Board now owns 73,737 shares of the technology company’s stock worth $5,782,000 after buying an additional 12,680 shares during the period. New Amsterdam Partners LLC NY raised its position in Arrow Electronics by 537.2% in the second quarter. New Amsterdam Partners LLC NY now owns 42,132 shares of the technology company’s stock worth $3,304,000 after buying an additional 35,520 shares during the period. First Trust Advisors LP raised its position in Arrow Electronics by 3.8% in the second quarter. First Trust Advisors LP now owns 244,229 shares of the technology company’s stock worth $19,152,000 after buying an additional 9,039 shares during the period. Arizona State Retirement System raised its position in Arrow Electronics by 1.4% in the second quarter. Arizona State Retirement System now owns 37,500 shares of the technology company’s stock worth $2,941,000 after buying an additional 500 shares during the period. Finally, Boston Partners raised its position in Arrow Electronics by 0.3% in the second quarter. Boston Partners now owns 5,879,972 shares of the technology company’s stock worth $461,107,000 after buying an additional 15,047 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Arrow Electronics, Inc. (NYSE ARW) opened at 77.31 on Wednesday. Arrow Electronics, Inc. has a 12-month low of $58.51 and a 12-month high of $84.53. The company has a 50-day moving average price of $79.07 and a 200-day moving average price of $75.52. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 14.14 and a beta of 1.13.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. On average, equities research analysts forecast that Arrow Electronics, Inc. will post $7.32 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/30/legal-general-group-plc-increases-position-in-arrow-electronics-inc-arw.html.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Thursday, August 24th. BidaskClub lowered Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 target price (up from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. Finally, Stifel Nicolaus lifted their target price on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $76.00.

In other news, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the transaction, the insider now owns 26,213 shares in the company, valued at approximately $2,022,595.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael J. Long sold 20,910 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the transaction, the chairman now owns 346,486 shares in the company, valued at approximately $26,336,400.86. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

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.

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

Receive News & Stock Ratings for Arrow Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics Inc. and related stocks with our FREE daily email newsletter.