State of Tennessee Treasury Department grew its position in Arrow Electronics, Inc. (NYSE:ARW) by 126.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 107,600 shares of the technology company’s stock after buying an additional 60,000 shares during the period. State of Tennessee Treasury Department owned approximately 0.12% of Arrow Electronics worth $8,652,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC raised its holdings in Arrow Electronics by 489.5% in the second quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock worth $110,000 after buying an additional 1,170 shares during the last quarter. Paragon Capital Management Ltd purchased a new position in Arrow Electronics in the third quarter worth about $201,000. Advisor Partners LLC raised its holdings in Arrow Electronics by 2.6% in the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock worth $220,000 after buying an additional 71 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Arrow Electronics in the first quarter worth about $213,000. Finally, Atria Investments LLC purchased a new position in Arrow Electronics in the second quarter worth about $231,000. 93.33% of the stock is owned by institutional investors and hedge funds.
ARW has been the subject of several research reports. Deutsche Bank AG reissued a “hold” rating and set a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. BidaskClub cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.25.
Shares of Arrow Electronics, Inc. (NYSE ARW) opened at $78.28 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.57. The stock has a market cap of $6,886.53, a P/E ratio of 11.09, a P/E/G ratio of 0.93 and a beta of 1.20. Arrow Electronics, Inc. has a 12-month low of $62.10 and a 12-month high of $84.53.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The company had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.58 billion. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 earnings per share. equities analysts predict that Arrow Electronics, Inc. will post 7.35 EPS for the current fiscal year.
In other Arrow Electronics news, Chairman Michael J. Long sold 20,910 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $76.01, for a total value of $1,589,369.10. Following the completion of the transaction, the chairman now directly owns 346,486 shares in the company, valued at $26,336,400.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean J. Kerins sold 4,477 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $77.16, for a total transaction of $345,445.32. Following the completion of the transaction, the insider now owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Arrow Electronics Company Profile
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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