State Treasurer State of Michigan decreased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,662 shares of the technology company’s stock after selling 1,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Arrow Electronics were worth $2,546,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at about $2,439,000. Parametrica Management Ltd acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at about $531,000. LSV Asset Management grew its position in shares of Arrow Electronics by 0.9% in the fourth quarter. LSV Asset Management now owns 2,264,525 shares of the technology company’s stock valued at $182,090,000 after purchasing an additional 19,185 shares during the period. Dean Capital Investments Management LLC acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at about $483,000. Finally, Twin Capital Management Inc. grew its position in shares of Arrow Electronics by 7.0% in the fourth quarter. Twin Capital Management Inc. now owns 43,840 shares of the technology company’s stock valued at $3,525,000 after purchasing an additional 2,850 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.
Arrow Electronics, Inc. (NYSE ARW) opened at $76.09 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.56 and a quick ratio of 1.13. The firm has a market cap of $6,673.85, a PE ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.17. Arrow Electronics, Inc. has a 52 week low of $69.67 and a 52 week high of $87.26.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 1.50% and a return on equity of 14.12%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $2.00 earnings per share. research analysts anticipate that Arrow Electronics, Inc. will post 8.47 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd.
In other news, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total value of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares of the company’s stock, valued at $2,015,286.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew R. Anderson sold 1,416 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.00, for a total transaction of $111,864.00. Following the completion of the transaction, the senior vice president now directly owns 1,416 shares in the company, valued at $111,864. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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Arrow Electronics Company Profile
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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