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State of New Jersey Common Pension Fund D increased its stake in Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,625 shares of the technology company’s stock after purchasing an additional 4,493 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Arrow Electronics worth $3,376,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Wetherby Asset Management Inc. boosted its stake in shares of Arrow Electronics by 3.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company’s stock worth $358,000 after acquiring an additional 101 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Arrow Electronics by 3.5% during the 2nd quarter. Synovus Financial Corp now owns 3,232 shares of the technology company’s stock worth $359,000 after acquiring an additional 108 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Arrow Electronics by 4.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,567 shares of the technology company’s stock worth $237,000 after acquiring an additional 109 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Arrow Electronics by 0.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,119 shares of the technology company’s stock worth $1,209,000 after acquiring an additional 110 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Arrow Electronics by 4.4% during the 1st quarter. Neuberger Berman Group LLC now owns 2,837 shares of the technology company’s stock worth $337,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.
Insider Buying and Selling at Arrow Electronics
In other Arrow Electronics news, SVP Vincent P. Melvin sold 6,000 shares of Arrow Electronics stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $112.03, for a total value of $672,180.00. Following the completion of the transaction, the senior vice president now directly owns 19,381 shares of the company’s stock, valued at approximately $2,171,253.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
Arrow Electronics Stock Up 1.5 %
Shares of ARW stock opened at $113.86 on Friday. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 1.76 and a beta of 1.37. Arrow Electronics, Inc. has a one year low of $89.38 and a one year high of $135.00. The company’s fifty day moving average price is $107.28 and its 200-day moving average price is $106.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.50 and a quick ratio of 1.06.
Arrow Electronics (NYSE:ARW – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.36 by $0.09. The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.28 billion. Arrow Electronics had a net margin of 3.93% and a return on equity of 27.82%. Arrow Electronics’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.04 EPS. Sell-side analysts expect that Arrow Electronics, Inc. will post 22.36 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ARW shares. Stifel Nicolaus dropped their price target on shares of Arrow Electronics from $130.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, October 10th. StockNews.com began coverage on shares of Arrow Electronics in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two 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 currently has a consensus rating of “Hold” and an average target price of $127.00.
Arrow Electronics Profile
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Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
Further Reading
- Get a free copy of the StockNews.com research report on Arrow Electronics (ARW)
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