Nuveen Asset Management LLC reduced its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 75.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,368 shares of the technology company’s stock after selling 140,044 shares during the period. Nuveen Asset Management LLC owned about 0.05% of Arrow Electronics worth $3,404,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ARW. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Arrow Electronics during the first quarter worth about $213,000. Achmea Investment Management B.V. acquired a new stake in shares of Arrow Electronics during the first quarter worth about $3,781,000. Bank of Nova Scotia acquired a new stake in shares of Arrow Electronics during the first quarter worth about $2,423,000. Oak Associates Ltd. OH raised its stake in shares of Arrow Electronics by 18.2% in the first quarter. Oak Associates Ltd. OH now owns 107,105 shares of the technology company’s stock worth $7,863,000 after buying an additional 16,500 shares during the period. Finally, Paloma Partners Management Co raised its stake in shares of Arrow Electronics by 13.9% in the first quarter. Paloma Partners Management Co now owns 48,343 shares of the technology company’s stock worth $3,549,000 after buying an additional 5,881 shares during the period. Institutional investors own 94.31% of the company’s stock.
Shares of Arrow Electronics, Inc. (NYSE:ARW) traded down 0.65% during mid-day trading on Friday, reaching $79.81. 504,571 shares of the company’s stock were exchanged. Arrow Electronics, Inc. has a 52 week low of $58.51 and a 52 week high of $84.53. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 13.75 and a beta of 1.13. The stock has a 50 day moving average price of $79.76 and a 200 day moving average price of $75.11.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.23 billion. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. Equities research analysts predict that Arrow Electronics, Inc. will post $7.18 EPS for the current year.
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A number of analysts have issued reports on the stock. BidaskClub lowered shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus boosted their price target on shares of Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Arrow Electronics presently has an average rating of “Buy” and a consensus price target of $76.40.
In related news, insider Mary Catherine Morris sold 9,692 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $75.07, for a total transaction of $727,578.44. Following the sale, the insider now directly owns 21,570 shares in the company, valued at approximately $1,619,259.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gretchen Zech sold 9,781 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $77.34, for a total value of $756,462.54. Following the sale, the senior vice president now owns 17,186 shares in the company, valued at $1,329,165.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,233 shares of company stock worth $2,148,561. Company insiders own 1.20% of the company’s stock.
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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