Icon Advisers Inc. Co. bought a new position in Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,800 shares of the technology company’s stock, valued at approximately $944,000.
Several other institutional investors and hedge funds have also made changes to their positions in ARW. Principal Financial Group Inc. lifted its holdings in Arrow Electronics by 10.5% during the 1st quarter. Principal Financial Group Inc. now owns 613,919 shares of the technology company’s stock worth $47,284,000 after buying an additional 58,345 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Arrow Electronics by 49.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 4,056 shares of the technology company’s stock worth $305,000 after buying an additional 1,351 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Arrow Electronics by 38.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,610 shares of the technology company’s stock worth $723,000 after buying an additional 2,660 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Arrow Electronics by 16.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,440 shares of the technology company’s stock worth $1,689,000 after buying an additional 3,177 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Arrow Electronics by 8.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,493 shares of the technology company’s stock worth $2,672,000 after buying an additional 2,839 shares in the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.
ARW stock opened at $74.33 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.62. The firm has a market capitalization of $6.56 billion, a PE ratio of 8.58, a P/E/G ratio of 0.96 and a beta of 1.16. Arrow Electronics, Inc. has a twelve month low of $64.04 and a twelve month high of $87.26.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.02. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Arrow Electronics had a return on equity of 15.12% and a net margin of 1.84%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. On average, analysts expect that Arrow Electronics, Inc. will post 8.82 earnings per share for the current fiscal year.
Several research firms have issued reports on ARW. Citigroup upped their price objective on Arrow Electronics from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Wells Fargo & Co began coverage on Arrow Electronics in a report on Tuesday, July 17th. They set an “outperform” rating and a $90.00 price objective on the stock. ValuEngine raised Arrow Electronics from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $86.00.
In other news, insider Charles Kostalnick II sold 700 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $74.37, for a total value of $52,059.00. Following the transaction, the insider now owns 12,780 shares of the company’s stock, valued at approximately $950,448.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vincent P. Melvin sold 2,000 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $78.10, for a total value of $156,200.00. Following the completion of the transaction, the insider now directly owns 16,371 shares in the company, valued at approximately $1,278,575.10. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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About Arrow Electronics
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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