Shares of Arrow Electronics Inc. (NYSE:ARW) traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $63.10 and last traded at $63.10, with a volume of 301,496 shares trading hands. The stock had previously closed at $66.63.

Several analysts have recently issued reports on the stock. SunTrust Banks Inc. reissued a “buy” rating on shares of Arrow Electronics in a research report on Saturday, June 25th. Brean Capital reissued a “buy” rating and issued a $68.00 price target (up previously from $62.00) on shares of Arrow Electronics in a research report on Wednesday, May 4th. Goldman Sachs Group Inc. boosted their price target on shares of 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 raised shares of 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, July 5th. Finally, Citigroup Inc. lowered shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Arrow Electronics presently has a consensus rating of “Buy” and a consensus target price of $63.83.

The stock has a market capitalization of $5.78 billion and a PE ratio of 12.00. The company’s 50-day moving average is $64.48 and its 200-day moving average is $61.00.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.01. The company earned $5.97 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the company earned $1.54 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Arrow Electronics Inc. will post $6.65 earnings per share for the current year.

In other news, insider Andrew S. Bryant sold 13,540 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 9,279 shares in the company, valued at $573,627.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Gregory Tarpinian sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $63.21, for a total value of $208,593.00. Following the completion of the sale, the general counsel now owns 10,399 shares in the company, valued at $657,320.79. The disclosure for this sale can be found here.

Several hedge funds recently modified their holdings of ARW. BlackRock Advisors LLC increased its stake in shares of Arrow Electronics by 6.5% in the fourth quarter. BlackRock Advisors LLC now owns 198,325 shares of the company’s stock valued at $10,745,000 after buying an additional 12,082 shares in the last quarter. Oarsman Capital Inc. raised its position in Arrow Electronics by 7.3% in the fourth quarter. Oarsman Capital Inc. now owns 24,344 shares of the company’s stock valued at $1,319,000 after buying an additional 1,662 shares during the last quarter. State of Tennessee Treasury Department raised its position in Arrow Electronics by 86.8% in the fourth quarter. State of Tennessee Treasury Department now owns 107,600 shares of the company’s stock valued at $5,830,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Arrow Electronics by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,894,212 shares of the company’s stock valued at $156,820,000 after buying an additional 92,878 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Arrow Electronics by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 302,465 shares of the company’s stock valued at $16,388,000 after buying an additional 3,746 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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