Profund Advisors LLC lowered its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 34.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,707 shares of the technology company’s stock after selling 5,152 shares during the period. Profund Advisors LLC’s holdings in Arrow Electronics were worth $761,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ARW. BlackRock Inc. raised its stake in shares of Arrow Electronics by 4,788.3% during the first quarter. BlackRock Inc. now owns 8,306,456 shares of the technology company’s stock valued at $609,777,000 after acquiring an additional 8,136,530 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Arrow Electronics by 7.3% during the first quarter. Wellington Management Group LLP now owns 6,069,251 shares of the technology company’s stock valued at $445,543,000 after acquiring an additional 415,098 shares during the last quarter. LSV Asset Management raised its stake in shares of Arrow Electronics by 13.1% during the second quarter. LSV Asset Management now owns 2,142,395 shares of the technology company’s stock valued at $168,006,000 after acquiring an additional 248,373 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Arrow Electronics by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,479,656 shares of the technology company’s stock valued at $549,082,000 after acquiring an additional 247,598 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Arrow Electronics by 97.5% during the first quarter. Morgan Stanley now owns 441,079 shares of the technology company’s stock valued at $32,380,000 after acquiring an additional 217,695 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Michael J. Long sold 20,910 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 346,486 shares in the company, valued at approximately $26,336,400.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean J. Kerins sold 4,477 shares of the company’s stock in a transaction 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 sale, the insider now owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

ARW has been the subject of several analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target on shares of Arrow Electronics in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Arrow Electronics currently has an average rating of “Hold” and a consensus target price of $80.00.

TRADEMARK VIOLATION WARNING: This story was published by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/25/profund-advisors-llc-has-761000-stake-in-arrow-electronics-inc-arw.html.

Arrow Electronics, Inc. (NYSE:ARW) opened at 80.24 on Monday. The company has a market cap of $7.08 billion, a P/E ratio of 14.67 and a beta of 1.12. The company’s 50-day moving average is $77.62 and its 200-day moving average is $76.16. Arrow Electronics, Inc. has a 52 week low of $58.51 and a 52 week high of $84.53.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, beating 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 company had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the business posted $1.65 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Arrow Electronics, Inc. will post $7.32 EPS for the current fiscal year.

Arrow Electronics Company Profile

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.

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

Receive News & Ratings for Arrow Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.