Arrow Electronics Inc. (NYSE:ARW) was down 5.3% during 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 equities research analysts have commented on the stock. Bank of America Corp. assumed coverage on shares of Arrow Electronics in a research report on Wednesday, April 27th. They set a “buy” rating on the stock. Brean Capital set a $70.00 price target on shares of Arrow Electronics and gave the stock a “buy” rating in a research report on Wednesday. Goldman Sachs Group Inc. boosted their price target on shares of Arrow Electronics from $70.00 to $72.00 and gave the stock 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, SunTrust Banks Inc. reissued a “buy” rating on shares of Arrow Electronics in a research report on Saturday, June 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $64.83.

The stock has a market cap of $5.86 billion and a P/E ratio of 11.82. The firm has a 50-day moving average of $64.29 and a 200-day moving average of $61.16.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.01. During the same period in the prior year, the firm earned $1.54 EPS. The company earned $5.97 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Arrow Electronics’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Arrow Electronics Inc. will post $6.65 earnings per share for the current fiscal year.

In other news, General Counsel Gregory Tarpinian sold 3,300 shares of the business’s stock in a transaction that occurred 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 directly owns 10,399 shares in the company, valued at approximately $657,320.79. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul J. Reilly sold 50,705 shares of the business’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 completion of the sale, the executive vice president now owns 108,962 shares of the company’s stock, valued at $7,341,859.56. The disclosure for this sale can be found here.

Other large investors have made changes to their positions in the company. BlackRock Advisors LLC raised 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 worth $10,745,000 after buying an additional 12,082 shares during the last quarter. Oarsman Capital Inc. raised its stake in shares of Arrow Electronics by 7.3% in the fourth quarter. Oarsman Capital Inc. now owns 24,344 shares of the company’s stock worth $1,319,000 after buying an additional 1,662 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of Arrow Electronics by 86.8% in the fourth quarter. State of Tennessee Treasury Department now owns 107,600 shares of the company’s stock worth $5,830,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Arrow Electronics by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,894,212 shares of the company’s stock worth $156,820,000 after buying an additional 92,878 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Arrow Electronics by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 302,465 shares of the company’s stock worth $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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