Arrow Electronics, Inc. (NYSE:ARW) SVP Sells $505,040.00 in Stock

Arrow Electronics, Inc. (NYSE:ARW – Get Rating) SVP Gretchen Zech sold 4,000 shares of Arrow Electronics stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $126.26, for a total value of $505,040.00. Following the completion of the transaction, the senior vice president now owns 27,925 shares of the company’s stock, valued at approximately $3,525,810.50. The sale was disclosed in a document filed with the SEC, which is available at this link.

Arrow Electronics Trading Up 2.5 %

Shares of Arrow Electronics stock traded up $3.14 on Friday, reaching $129.12. 193,209 shares of the company were exchanged, compared to its average volume of 460,482. Arrow Electronics, Inc. has a fifty-two week low of $89.38 and a fifty-two week high of $134.56. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 1.88 and a beta of 1.40. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $118.32 and a 200-day moving average price of $115.06.

Arrow Electronics (NYSE:ARW – Get Rating) last announced its earnings results on Thursday, May 4th. The technology company reported $4.60 EPS for the quarter, beating the consensus estimate of $4.47 by $0.13. Arrow Electronics had a return on equity of 24.92% and a net margin of 3.63%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.61 billion. During the same period in the prior year, the business posted $5.43 earnings per share. Arrow Electronics’s revenue was down 3.7% compared to the same quarter last year. On average, analysts expect that Arrow Electronics, Inc. will post 16.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Citigroup lifted their target price on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Raymond James lifted their target price on Arrow Electronics from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. StockNews.com raised Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 13th. Finally, Truist Financial lifted their target price on Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $126.71.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds have recently modified their holdings of the stock. Cooke & Bieler LP increased its position in Arrow Electronics by 7.6% in the 4th quarter. Cooke & Bieler LP now owns 3,506,480 shares of the technology company’s stock worth $366,673,000 after purchasing an additional 246,657 shares during the last quarter. LSV Asset Management boosted its stake in Arrow Electronics by 4.4% during the 3rd quarter. LSV Asset Management now owns 2,943,260 shares of the technology company’s stock valued at $271,339,000 after purchasing an additional 123,268 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Arrow Electronics during the 4th quarter valued at approximately $230,362,000. Millennium Management LLC lifted its position in shares of Arrow Electronics by 25.9% in the 4th quarter. Millennium Management LLC now owns 1,255,591 shares of the technology company’s stock worth $131,297,000 after acquiring an additional 258,224 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Arrow Electronics by 3.9% in the 4th quarter. Bank of America Corp DE now owns 892,652 shares of the technology company’s stock worth $93,345,000 after acquiring an additional 33,172 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Company Profile

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Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.