Longview Partners Guernsey LTD Sells 208,092 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Longview Partners Guernsey LTD lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8.9% during the second quarter, Holdings Channel.com reports. The firm owned 2,142,258 shares of the technology company’s stock after selling 208,092 shares during the quarter. Arrow Electronics makes up about 1.3% of Longview Partners Guernsey LTD’s investment portfolio, making the stock its 23rd biggest position. Longview Partners Guernsey LTD’s holdings in Arrow Electronics were worth $243,853,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its holdings in Arrow Electronics by 5.8% in the first quarter. Northern Trust Corp now owns 930,073 shares of the technology company’s stock worth $103,070,000 after acquiring an additional 51,068 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in Arrow Electronics by 11.4% in the second quarter. Advisor Group Holdings Inc. now owns 10,920 shares of the technology company’s stock worth $1,242,000 after acquiring an additional 1,114 shares in the last quarter. Twin Tree Management LP boosted its holdings in Arrow Electronics by 46,612.9% in the second quarter. Twin Tree Management LP now owns 28,962 shares of the technology company’s stock worth $3,297,000 after acquiring an additional 28,900 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Arrow Electronics by 4.1% in the second quarter. SG Americas Securities LLC now owns 16,459 shares of the technology company’s stock worth $1,874,000 after acquiring an additional 642 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Arrow Electronics by 8.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 840,181 shares of the technology company’s stock worth $93,109,000 after acquiring an additional 65,100 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Tuesday, August 10th.

In related news, SVP Carine Lamercie Jean-Claude sold 4,119 shares of Arrow Electronics stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $117.47, for a total transaction of $483,858.93. Following the completion of the transaction, the senior vice president now directly owns 11,909 shares in the company, valued at $1,398,950.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury sold 11,238 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $121.43, for a total value of $1,364,630.34. Following the transaction, the chief financial officer now owns 19,161 shares of the company’s stock, valued at $2,326,720.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,929 shares of company stock valued at $4,331,764. Company insiders own 1.10% of the company’s stock.

Shares of NYSE:ARW traded up $3.70 during trading on Thursday, hitting $117.94. The stock had a trading volume of 2,971 shares, compared to its average volume of 486,233. Arrow Electronics, Inc. has a 12-month low of $76.46 and a 12-month high of $124.76. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.34 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $116.41 and a two-hundred day simple moving average of $116.17.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 5th. The technology company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.38. Arrow Electronics had a return on equity of 17.03% and a net margin of 2.60%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the business posted $1.59 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 13.51 earnings per share for the current year.

Arrow Electronics announced that its board has approved a share buyback plan on Thursday, August 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.

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

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