Arrow Electronics, Inc. (ARW) Holdings Reduced by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. reduced its position in Arrow Electronics, Inc. (NYSE:ARW) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,575 shares of the technology company’s stock after selling 4,251 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Arrow Electronics worth $21,677,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ARW. State Treasurer State of Michigan boosted its holdings in shares of Arrow Electronics by 1.4% in the second quarter. State Treasurer State of Michigan now owns 36,662 shares of the technology company’s stock valued at $2,875,000 after acquiring an additional 500 shares during the period. Breton Hill Capital Ltd. boosted its holdings in shares of 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 acquiring an additional 100 shares during the period. ING Groep NV acquired a new stake in shares of Arrow Electronics in the second quarter valued at approximately $848,000. Aviance Capital Partners LLC boosted its holdings in shares of Arrow Electronics by 0.7% in the second quarter. Aviance Capital Partners LLC now owns 22,016 shares of the technology company’s stock valued at $1,726,000 after acquiring an additional 160 shares during the period. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Arrow Electronics by 4.3% in the second quarter. Longview Partners Guernsey LTD now owns 2,792,564 shares of the technology company’s stock valued at $218,993,000 after acquiring an additional 116,338 shares during the period. 90.51% of the stock is owned by institutional investors and hedge funds.
In related 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 transaction of $375,984.00. Following the completion of the sale, the director now directly owns 91 shares of the company’s stock, valued at $7,128.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew R. Anderson sold 1,416 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.00, for a total value of $111,864.00. Following the sale, the senior vice president now directly owns 1,416 shares of the company’s stock, valued at $111,864. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,032 shares of company stock valued at $788,816. Corporate insiders own 1.20% of the company’s stock.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.82. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period last year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts anticipate that Arrow Electronics, Inc. will post 7.35 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub downgraded Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target on shares of Arrow Electronics in a report on Tuesday, September 12th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $81.00 price target (up from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Arrow Electronics has a consensus rating of “Hold” and an average price target of $83.25.
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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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