Zurcher Kantonalbank Zurich Cantonalbank Has $1.31 Million Holdings in Arrow Electronics, Inc. (ARW)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 39.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,712 shares of the technology company’s stock after selling 10,757 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arrow Electronics were worth $1,311,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. NEXT Financial Group Inc increased its stake in shares of Arrow Electronics by 776.0% in the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after purchasing an additional 1,940 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock worth $188,000 after purchasing an additional 255 shares during the period. Nordea Investment Management AB increased its stake in shares of Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock worth $197,000 after purchasing an additional 1,248 shares during the period. Advisor Partners LLC increased its stake in shares of Arrow Electronics by 2.6% in the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock worth $220,000 after purchasing an additional 71 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Arrow Electronics in the first quarter worth about $213,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
A number of equities analysts have recently commented on ARW shares. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub lowered Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus lifted their price objective on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. One 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.83.
Arrow Electronics, Inc. (NYSE ARW) opened at 76.74 on Friday. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 14.03 and a beta of 1.12. The company’s 50-day moving average price is $78.36 and its 200 day moving average price is $75.86. Arrow Electronics, Inc. has a 52 week low of $58.52 and a 52 week high of $84.53.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion during 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 revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. On average, analysts predict that Arrow Electronics, Inc. will post $7.32 EPS for the current year.
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In other Arrow Electronics news, Chairman Michael J. Long sold 20,910 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the sale, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean J. Kerins sold 4,477 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $77.16, for a total transaction of $345,445.32. Following the sale, the insider now owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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 various electronic components and enterprise computing solutions suppliers.
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