Arrow Electronics, Inc. (ARW) Holdings Lessened by Principal Financial Group Inc.
Principal Financial Group Inc. trimmed its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,092 shares of the technology company’s stock after selling 17,729 shares during the period. Principal Financial Group Inc. owned about 0.55% of Arrow Electronics worth $39,167,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Advisory Services Network LLC raised its position in shares of Arrow Electronics by 489.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,170 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of Arrow Electronics during the 3rd quarter valued at approximately $201,000. Advisor Partners LLC raised its position in shares of Arrow Electronics by 2.6% during the 2nd quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock valued at $220,000 after acquiring an additional 71 shares in the last quarter. Timber Hill LLC acquired a new stake in shares of Arrow Electronics during the 2nd quarter valued at approximately $234,000. Finally, OLD National Bancorp IN acquired a new stake in shares of Arrow Electronics during the 3rd quarter valued at approximately $244,000. 93.13% of the stock is currently owned by institutional investors.
ARW has been the topic of several research reports. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, September 11th. BidaskClub lowered Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $81.00 price target (up from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.25.
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Arrow Electronics, Inc. (NYSE ARW) opened at $78.47 on Friday. The company has a market capitalization of $6,803.83, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.92 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.58. Arrow Electronics, Inc. has a 52 week low of $65.51 and a 52 week high of $84.53.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.82 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.82. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.58 billion. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 EPS. analysts anticipate that Arrow Electronics, Inc. will post 7.35 earnings per share for the current year.
In other news, Director Gail Hamilton sold 4,800 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $78.33, for a total value of $375,984.00. Following the completion of the transaction, the director now owns 91 shares of the company’s stock, valued at $7,128.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean J. Kerins sold 4,477 shares of the stock in a transaction on 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 transaction, the insider now directly owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
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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