Arrow Electronics Inc. (NYSE:ARW)’s share price gapped up before the market opened on Friday . The stock had previously closed at $60.50, but opened at $61.08. Arrow Electronics shares last traded at $63.15, with a volume of 221,392 shares changing hands.

Several equities analysts have recently issued reports on the company. SunTrust Banks Inc. reiterated a “buy” rating on shares of Arrow Electronics in a research report on Saturday, June 25th. Brean Capital reiterated a “buy” rating and set a $68.00 price target (up from $62.00) on shares of Arrow Electronics in a research report on Wednesday, May 4th. Goldman Sachs Group Inc. lifted their price target on Arrow Electronics from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 9th. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday. Finally, Citigroup Inc. cut Arrow Electronics from a “buy” rating to a “sell” rating and lowered their price target for the company from $70.00 to $53.00 in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Arrow Electronics currently has an average rating of “Buy” and an average target price of $63.83.

The company has a market cap of $5.80 billion and a price-to-earnings ratio of 12.03. The stock has a 50-day moving average price of $64.24 and a 200 day moving average price of $59.44.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.03. The company earned $5.47 billion during the quarter, compared to the consensus estimate of $5.45 billion. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share. On average, equities analysts anticipate that Arrow Electronics Inc. will post $6.65 earnings per share for the current fiscal year.

In other news, insider Sean J. Kerins sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $60.92, for a total value of $609,200.00. Following the transaction, the insider now directly owns 16,609 shares of the company’s stock, valued at approximately $1,011,820.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew S. Bryant sold 13,540 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $61.82, for a total value of $837,042.80. Following the completion of the transaction, the insider now directly owns 9,279 shares in the company, valued at $573,627.78. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have made changes to their positions in the company. Janus Capital Management increased its position in shares of Arrow Electronics by 142.6% in the third quarter. Janus Capital Management now owns 46,100 shares of the company’s stock valued at $2,548,000 after buying an additional 27,100 shares during the last quarter. Retirement Systems of Alabama increased its position in Arrow Electronics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 120,181 shares of the company’s stock valued at $6,511,000 after buying an additional 438 shares in the last quarter. Neuberger Berman Group LLC increased its position in Arrow Electronics by 116.0% in the fourth quarter. Neuberger Berman Group LLC now owns 38,875 shares of the company’s stock valued at $2,106,000 after buying an additional 20,881 shares in the last quarter. Nationwide Fund Advisors increased its position in Arrow Electronics by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 163,383 shares of the company’s stock valued at $8,852,000 after buying an additional 461 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Arrow Electronics by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 182,922 shares of the company’s stock valued at $9,911,000 after buying an additional 2,792 shares in the last quarter.

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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

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