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.

ARW has been the subject of several analyst reports. Bank of America Corp. initiated coverage on shares of Arrow Electronics in a research note on Wednesday, April 27th. They issued a “buy” rating for the company. Goldman Sachs Group Inc. raised shares of Arrow Electronics from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $69.00 in a research note on Monday, March 14th. Brean Capital reissued a “buy” rating and issued a $68.00 target price (up from $62.00) on shares of Arrow Electronics in a research note on Wednesday, May 4th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, July 5th. Finally, SunTrust Banks Inc. reissued a “buy” rating on shares of Arrow Electronics in a research note on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Arrow Electronics presently has an average rating of “Buy” and a consensus target price of $63.83.

The company has a market capitalization of $5.80 billion and a PE ratio of 12.03. The company 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 issued its quarterly earnings results on Tuesday, May 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. During the same period last year, the firm posted $1.32 earnings per share. The business earned $5.47 billion during the quarter, compared to analyst estimates of $5.45 billion. Arrow Electronics’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Arrow Electronics Inc. will post $6.65 EPS for the current year.

In other news, EVP Paul J. Reilly sold 50,705 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $67.38, for a total transaction of $3,416,502.90. Following the transaction, the executive vice president now directly owns 108,962 shares of the company’s stock, valued at $7,341,859.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean J. Kerins sold 10,000 shares of the company’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 in the company, valued at $1,011,820.28. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of ARW. Aviance Capital Partners LLC raised its position in shares of Arrow Electronics by 10.2% in the fourth quarter. Aviance Capital Partners LLC now owns 20,528 shares of the company’s stock worth $1,112,000 after buying an additional 1,905 shares during the last quarter. Bank of Montreal Can raised its position in shares of Arrow Electronics by 170.9% in the fourth quarter. Bank of Montreal Can now owns 20,817 shares of the company’s stock worth $1,127,000 after buying an additional 13,132 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Arrow Electronics by 116.0% in the fourth quarter. Neuberger Berman Group LLC now owns 38,875 shares of the company’s stock worth $2,106,000 after buying an additional 20,881 shares during the last quarter. Korea Investment CORP raised its position in shares of Arrow Electronics by 37.3% in the fourth quarter. Korea Investment CORP now owns 40,100 shares of the company’s stock worth $2,172,000 after buying an additional 10,900 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its position in shares of Arrow Electronics by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 60,867 shares of the company’s stock worth $3,297,000 after buying an additional 20,650 shares during 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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