Arrow Electronics, Inc. (NYSE:ARW) – Equities researchers at SunTrust Banks cut their Q3 2017 earnings estimates for shares of Arrow Electronics in a research note issued to investors on Thursday. SunTrust Banks analyst W. Stein now anticipates that the technology company will post earnings of $1.65 per share for the quarter, down from their previous estimate of $1.69.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.02. Arrow Electronics had a net margin of 2.19% and a return on equity of 13.73%. The company had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Arrow Electronics’s revenue was up 5.2% on a year-over-year basis.
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Several other research firms have also commented on ARW. Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Arrow Electronics has a consensus rating of “Hold” and a consensus target price of $71.17.
Arrow Electronics (NYSE:ARW) opened at 76.50 on Monday. Arrow Electronics has a 1-year low of $58.51 and a 1-year high of $78.23. The company has a market capitalization of $6.80 billion, a P/E ratio of 13.18 and a beta of 1.25. The company has a 50-day moving average of $72.33 and a 200-day moving average of $70.78.
In related news, insider Sean J. Kerins sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $72.86, for a total transaction of $255,010.00. Following the completion of the transaction, the insider now owns 28,236 shares in the company, valued at approximately $2,057,274.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael J. Long sold 190,865 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $72.14, for a total transaction of $13,769,001.10. Following the transaction, the chairman now owns 409,118 shares of the company’s stock, valued at approximately $29,513,772.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,628 shares of company stock valued at $14,496,116. 1.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock valued at $197,000 after buying an additional 1,248 shares during the period. Advisor Partners LLC purchased a new position in Arrow Electronics during the first quarter valued at approximately $200,000. Cypress Wealth Advisors LLC purchased a new position in Arrow Electronics during the fourth quarter valued at approximately $202,000. Flinton Capital Management LLC purchased a new position in Arrow Electronics during the fourth quarter valued at approximately $203,000. Finally, Parametrica Management Ltd purchased a new position in Arrow Electronics during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 93.74% 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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