Wells Fargo & Company MN boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 141.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 405,703 shares of the technology company’s stock after buying an additional 237,644 shares during the period. Wells Fargo & Company MN owned 0.46% of Arrow Electronics worth $30,541,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ARW. Daiwa Securities Group Inc. boosted its position in Arrow Electronics by 28.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,150 shares of the technology company’s stock valued at $243,000 after purchasing an additional 700 shares during the period. Twin Capital Management Inc. grew its holdings in shares of Arrow Electronics by 3.0% during the first quarter. Twin Capital Management Inc. now owns 45,140 shares of the technology company’s stock valued at $3,477,000 after buying an additional 1,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Arrow Electronics by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,806 shares of the technology company’s stock valued at $20,857,000 after buying an additional 2,181 shares in the last quarter. Reilly Financial Advisors LLC grew its holdings in shares of Arrow Electronics by 3.7% during the first quarter. Reilly Financial Advisors LLC now owns 127,001 shares of the technology company’s stock valued at $9,782,000 after buying an additional 4,495 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its holdings in shares of Arrow Electronics by 4.0% during the first quarter. Aviance Capital Partners LLC now owns 22,823 shares of the technology company’s stock valued at $1,757,000 after buying an additional 885 shares in the last quarter. 92.81% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Vincent P. Melvin sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $78.10, for a total transaction of $156,200.00. Following the completion of the sale, the insider now owns 16,371 shares in the company, valued at $1,278,575.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Gretchen Zech sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $77.00, for a total value of $346,500.00. Following the sale, the senior vice president now owns 21,814 shares of the company’s stock, valued at approximately $1,679,678. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

ARW has been the topic of a number of recent research reports. Pivotal Research set a $98.00 target price on Arrow Electronics and gave the company a “buy” rating in a research note on Monday, May 28th. Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Wells Fargo & Co initiated coverage on Arrow Electronics in a report on Tuesday, July 17th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, ValuEngine cut Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Buy” and a consensus target price of $88.17.

Arrow Electronics stock traded up $0.75 during mid-day trading on Friday, hitting $77.04. 343,162 shares of the company’s stock were exchanged, compared to its average volume of 400,702. The company has a market capitalization of $6.59 billion, a PE ratio of 10.19, a PEG ratio of 0.90 and a beta of 1.12. Arrow Electronics, Inc. has a fifty-two week low of $72.31 and a fifty-two week high of $87.26. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 2nd. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.05. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.25 billion. Arrow Electronics had a return on equity of 14.81% and a net margin of 1.72%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. analysts predict that Arrow Electronics, Inc. will post 8.88 EPS for the current fiscal year.

Arrow Electronics Company Profile

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.

See Also: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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