Zurcher Kantonalbank Zurich Cantonalbank Acquires 886 Shares of Arrow Electronics, Inc. (ARW)
Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,916 shares of the technology company’s stock after acquiring an additional 886 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arrow Electronics were worth $1,123,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Arrow Electronics during the 1st quarter valued at $131,000. TLP Group LLC acquired a new position in Arrow Electronics during the first quarter worth $152,000. Financial Gravity Wealth Inc. acquired a new position in Arrow Electronics during the first quarter worth $181,000. GWM Advisors LLC bought a new stake in Arrow Electronics during the second quarter valued at about $200,000. Finally, UMB Bank N A MO bought a new stake in Arrow Electronics during the second quarter valued at about $202,000. 92.81% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Monday, June 18th. Wells Fargo & Co started coverage on shares of Arrow Electronics in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, Pivotal Research set a $98.00 price target on shares of Arrow Electronics and gave the stock a “buy” rating in a research report on Monday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Arrow Electronics has an average rating of “Buy” and an average price target of $88.17.
Shares of Arrow Electronics stock traded up $0.75 during trading on Friday, hitting $77.04. 343,162 shares of the stock were exchanged, compared to its average volume of 400,702. The firm has a market capitalization of $6.59 billion, a PE ratio of 10.19, a P/E/G ratio of 0.90 and a beta of 1.12. Arrow Electronics, Inc. has a 1-year low of $72.31 and a 1-year high of $87.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.69 and a quick ratio of 1.17.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.05. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.25 billion. Arrow Electronics had a net margin of 1.72% and a return on equity of 14.81%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. analysts expect that Arrow Electronics, Inc. will post 8.88 EPS for the current year.
About Arrow Electronics
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.
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.