Eventide Asset Management LLC continued to hold its position in Arrow Electronics, Inc. (NYSE:ARW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,000 shares of the technology company’s stock at the end of the first quarter. Eventide Asset Management LLC owned about 0.33% of Arrow Electronics worth $21,656,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Arrow Electronics by 4.3% in the first quarter. AQR Capital Management LLC now owns 2,437,581 shares of the technology company’s stock valued at $178,942,000 after buying an additional 101,413 shares during the last quarter. State Street Corp increased its position in Arrow Electronics by 0.9% in the first quarter. State Street Corp now owns 3,186,798 shares of the technology company’s stock valued at $233,938,000 after buying an additional 27,200 shares during the last quarter. Amalgamated Bank increased its position in Arrow Electronics by 3.0% in the first quarter. Amalgamated Bank now owns 14,391 shares of the technology company’s stock valued at $1,056,000 after buying an additional 425 shares during the last quarter. KCG Holdings Inc. increased its position in Arrow Electronics by 168.4% in the first quarter. KCG Holdings Inc. now owns 13,395 shares of the technology company’s stock valued at $983,000 after buying an additional 8,405 shares during the last quarter. Finally, BlackRock Inc. increased its position in Arrow Electronics by 4,788.3% in the first quarter. BlackRock Inc. now owns 8,306,456 shares of the technology company’s stock valued at $609,777,000 after buying an additional 8,136,530 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.
Arrow Electronics, Inc. (ARW) traded up 0.65% during trading on Friday, hitting $77.12. 550,763 shares of the stock traded hands. Arrow Electronics, Inc. has a 52-week low of $58.51 and a 52-week high of $78.23. The company’s 50 day moving average price is $75.33 and its 200-day moving average price is $73.16. The stock has a market cap of $6.85 billion, a P/E ratio of 13.28 and a beta of 1.08.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.02. The firm had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Arrow Electronics had a net margin of 2.20% and a return on equity of 13.59%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Equities research analysts forecast that Arrow Electronics, Inc. will post $7.11 earnings per share for the current fiscal year.
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Several research firms have issued reports on ARW. Stifel Nicolaus increased their price objective on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Arrow Electronics has an average rating of “Hold” and an average price target of $71.17.
In related news, insider Sean J. Kerins sold 3,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $75.99, for a total value of $227,970.00. Following the sale, the insider now directly owns 21,736 shares of the company’s stock, valued at approximately $1,651,718.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Gretchen Zech sold 9,781 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $77.34, for a total transaction of $756,462.54. Following the completion of the sale, the senior vice president now directly owns 17,186 shares in the company, valued at $1,329,165.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,233 shares of company stock worth $2,148,561. 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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