Louisiana State Employees Retirement System reduced its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 22,700 shares of the technology company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Arrow Electronics were worth $1,749,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in Arrow Electronics in the 4th quarter valued at about $31,000. Csenge Advisory Group bought a new stake in Arrow Electronics in the 3rd quarter valued at about $32,000. Lindbrook Capital LLC bought a new stake in Arrow Electronics in the 4th quarter valued at about $37,000. JOYN Advisors Inc. lifted its position in Arrow Electronics by 317.8% in the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock valued at $42,000 after purchasing an additional 464 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Arrow Electronics by 8,975.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,854,494 shares of the technology company’s stock valued at $70,000 after purchasing an additional 4,801,004 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.
Several brokerages recently weighed in on ARW. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks lifted their price objective on shares of Arrow Electronics to $84.00 and gave the company a “hold” rating in a research report on Friday, February 8th. Finally, Stifel Nicolaus downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price objective on the stock. in a research report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Arrow Electronics has an average rating of “Hold” and a consensus price target of $83.33.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $2.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.01. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.94 billion. Arrow Electronics had a net margin of 2.41% and a return on equity of 14.88%. Arrow Electronics’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $2.49 EPS. On average, research analysts expect that Arrow Electronics, Inc. will post 9.07 earnings per share for the current fiscal year.
In other Arrow Electronics news, CEO Michael J. Long sold 53,984 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $80.70, for a total transaction of $4,356,508.80. Following the transaction, the chief executive officer now owns 366,253 shares of the company’s stock, valued at approximately $29,556,617.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Long sold 25,835 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $82.19, for a total transaction of $2,123,378.65. Following the transaction, the chief executive officer now directly owns 381,028 shares in the company, valued at approximately $31,316,691.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,351 shares of company stock worth $8,322,837. 1.40% of the stock is owned by corporate insiders.
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Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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