Arrow Electronics, Inc. (ARW) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 36.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,960 shares of the technology company’s stock after buying an additional 1,860 shares during the quarter. Riverhead Capital Management LLC’s holdings in Arrow Electronics were worth $546,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ARW. Wells Fargo & Company MN raised its stake in Arrow Electronics by 58.2% during the 1st quarter. Wells Fargo & Company MN now owns 107,435 shares of the technology company’s stock worth $7,887,000 after buying an additional 39,528 shares during the period. Suntrust Banks Inc. raised its stake in Arrow Electronics by 1.9% during the 1st quarter. Suntrust Banks Inc. now owns 7,459 shares of the technology company’s stock worth $547,000 after buying an additional 140 shares during the period. Pictet Asset Management Ltd. raised its stake in Arrow Electronics by 10.9% during the 1st quarter. Pictet Asset Management Ltd. now owns 34,500 shares of the technology company’s stock worth $2,533,000 after buying an additional 3,400 shares during the period. UBS Asset Management Americas Inc. raised its stake in Arrow Electronics by 6.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 290,755 shares of the technology company’s stock worth $21,344,000 after buying an additional 18,579 shares during the period. Finally, Sei Investments Co. raised its stake in Arrow Electronics by 0.5% during the 1st quarter. Sei Investments Co. now owns 48,803 shares of the technology company’s stock worth $3,584,000 after buying an additional 223 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Chairman Michael J. Long sold 20,910 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the transaction, the chairman now directly owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean J. Kerins sold 4,477 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the transaction, the insider now directly owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Shares of Arrow Electronics, Inc. (NYSE:ARW) opened at 79.47 on Thursday. Arrow Electronics, Inc. has a 52 week low of $58.51 and a 52 week high of $84.53. The firm has a market capitalization of $7.01 billion, a P/E ratio of 14.53 and a beta of 1.12. The company has a 50-day moving average of $77.62 and a 200 day moving average of $76.16.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The business had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Arrow Electronics, Inc. will post $7.32 earnings per share for the current year.
Several analysts recently commented on ARW shares. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Thursday, August 24th. BidaskClub cut Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price on shares of Arrow Electronics in a report on Tuesday, September 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $81.00 target price (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.
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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