Sei Investments Co. lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,548 shares of the technology company’s stock after buying an additional 4,711 shares during the period. Sei Investments Co.’s holdings in Arrow Electronics were worth $3,527,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in shares of Arrow Electronics by 76.1% during the 3rd quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock worth $145,000 after purchasing an additional 786 shares during the last quarter. Oakbrook Investments LLC boosted its holdings in shares of Arrow Electronics by 12.1% during the 4th quarter. Oakbrook Investments LLC now owns 7,400 shares of the technology company’s stock worth $595,000 after buying an additional 800 shares during the period. Atria Investments LLC boosted its holdings in shares of Arrow Electronics by 24.9% during the 4th quarter. Atria Investments LLC now owns 4,108 shares of the technology company’s stock worth $330,000 after buying an additional 818 shares during the period. Coastline Trust Co boosted its holdings in shares of Arrow Electronics by 9.9% during the 4th quarter. Coastline Trust Co now owns 9,590 shares of the technology company’s stock worth $771,000 after buying an additional 860 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Arrow Electronics by 40.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,136 shares of the technology company’s stock valued at $339,000 after purchasing an additional 1,185 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.
In other news, insider Mary Catherine Morris sold 1,455 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.13, for a total transaction of $119,499.15. Following the sale, the insider now owns 30,737 shares in the company, valued at approximately $2,524,429.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael J. Long sold 50,988 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $82.93, for a total transaction of $4,228,434.84. Following the completion of the transaction, the chairman now owns 438,636 shares in the company, valued at approximately $36,376,083.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,113 shares of company stock worth $4,898,398. 1.20% of the stock is owned by insiders.
A number of research firms have issued reports on ARW. Pivotal Research started coverage on shares of Arrow Electronics in a report on Tuesday, February 13th. They issued a “buy” rating and a $98.00 price objective for the company. Raymond James Financial upgraded shares of Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price objective for the company in a research report on Monday, February 12th. Finally, Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $89.80.
Shares of Arrow Electronics, Inc. (NYSE ARW) traded down $0.78 during mid-day trading on Wednesday, hitting $80.66. 332,771 shares of the stock traded hands, compared to its average volume of 585,381. Arrow Electronics, Inc. has a 52 week low of $69.67 and a 52 week high of $87.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.15 and a current ratio of 1.56. The stock has a market capitalization of $7,070.00, a P/E ratio of 13.74, a P/E/G ratio of 0.95 and a beta of 1.12.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.21. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.46 billion. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. equities research analysts predict that Arrow Electronics, Inc. will post 8.47 earnings per share for the current year.
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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