Boston Partners Has $461.11 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)
Boston Partners increased its position in Arrow Electronics, Inc. (NYSE:ARW) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 5,879,972 shares of the technology company’s stock after buying an additional 15,047 shares during the period. Boston Partners owned about 0.07% of Arrow Electronics worth $461,107,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in ARW. NEXT Financial Group Inc boosted its stake in shares of Arrow Electronics by 776.0% in the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after buying an additional 1,940 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock worth $188,000 after buying an additional 255 shares during the period. Nordea Investment Management AB boosted its stake in shares of Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock worth $197,000 after buying an additional 1,248 shares during the period. Advisor Partners LLC bought a new stake in shares of Arrow Electronics during the first quarter worth approximately $200,000. Finally, Parametrica Management Ltd bought a new stake in shares of Arrow Electronics during the first quarter worth approximately $208,000. 94.45% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics, Inc. (NYSE ARW) opened at 77.14 on Thursday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 13.29 and a beta of 1.13. Arrow Electronics, Inc. has a 12-month low of $58.52 and a 12-month high of $84.53. The firm’s 50-day moving average price is $80.11 and its 200 day moving average price is $75.35.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. The firm had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. On average, analysts expect that Arrow Electronics, Inc. will post $7.27 earnings per share for the current year.
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A number of brokerages recently commented on ARW. Stifel Nicolaus lifted their price objective on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub lowered Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $81.00 target price (up from $76.00) on shares of Arrow Electronics in a report on Wednesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Buy” and a consensus price target of $77.17.
In other news, insider Mary Catherine Morris sold 9,692 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $75.07, for a total transaction of $727,578.44. Following the completion of the transaction, the insider now directly owns 21,570 shares in the company, valued at approximately $1,619,259.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent P. Melvin sold 5,760 shares of Arrow Electronics stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $75.79, for a total transaction of $436,550.40. Following the sale, the insider now directly owns 22,213 shares of the company’s stock, valued at $1,683,523.27. The disclosure for this sale can be found here. Insiders have sold a total of 18,452 shares of company stock valued at $1,392,099 over the last 90 days. Company insiders own 1.20% of the company’s stock.
About Arrow Electronics
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 various electronic components and enterprise computing solutions suppliers.
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