Csenge Advisory Group trimmed its stake in Arrow Electronics, Inc. (NYSE:ARW) by 21.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,859 shares of the technology company’s stock after selling 765 shares during the quarter. Csenge Advisory Group’s holdings in Arrow Electronics were worth $230,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in Arrow Electronics in the fourth quarter worth $121,000. Cerebellum GP LLC bought a new stake in Arrow Electronics in the fourth quarter worth $132,000. Advisor Group Inc. boosted its holdings in Arrow Electronics by 76.1% in the third quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock worth $145,000 after acquiring an additional 786 shares in the last quarter. Calton & Associates Inc. bought a new stake in Arrow Electronics in the fourth quarter worth $156,000. Finally, Financial Gravity Companies Inc. bought a new stake in Arrow Electronics in the fourth quarter worth $160,000. 93.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Mary Catherine Morris sold 1,455 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.13, for a total transaction of $119,499.15. Following the transaction, the insider now directly owns 30,737 shares of the company’s stock, valued at $2,524,429.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vincent P. Melvin sold 3,125 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $82.64, for a total value of $258,250.00. Following the transaction, the insider now directly owns 18,371 shares in the company, valued at $1,518,179.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,113 shares of company stock worth $4,898,398. Corporate insiders own 1.20% of the company’s stock.
ARW stock opened at $79.56 on Wednesday. The stock has a market capitalization of $6,942.21, a price-to-earnings ratio of 10.46, a PEG ratio of 0.93 and a beta of 1.12. The company has a current ratio of 1.56, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59. Arrow Electronics, Inc. has a 1-year low of $69.67 and a 1-year high of $87.26.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.21. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 earnings per share. analysts predict that Arrow Electronics, Inc. will post 8.47 EPS for the current year.
ARW has been the topic of several analyst reports. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Friday, February 23rd. Pivotal Research assumed coverage on Arrow Electronics in a report on Tuesday, February 13th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Raymond James Financial raised Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $89.80.
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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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