Comerica Bank Has $3.91 Million Holdings in Arrow Electronics, Inc. (ARW)
Comerica Bank lessened its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,159 shares of the technology company’s stock after selling 10,665 shares during the period. Comerica Bank owned about 0.07% of Arrow Electronics worth $3,905,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new position in shares of Arrow Electronics during the 2nd quarter worth approximately $103,000. ELM Advisors LLC acquired a new position in shares of Arrow Electronics during the 3rd quarter worth approximately $109,000. Cerebellum GP LLC acquired a new position in shares of Arrow Electronics during the 3rd quarter worth approximately $168,000. GWM Advisors LLC acquired a new stake in shares of Arrow Electronics during the 2nd quarter worth approximately $200,000. Finally, UMB Bank N A MO acquired a new stake in shares of Arrow Electronics during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.
In related news, insider Charles Kostalnick II sold 700 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $74.37, for a total transaction of $52,059.00. Following the sale, the insider now owns 12,780 shares in the company, valued at approximately $950,448.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.02. The business had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Arrow Electronics had a net margin of 1.84% and a return on equity of 15.12%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. Equities analysts expect that Arrow Electronics, Inc. will post 8.82 EPS for the current year.
Several analysts recently issued reports on ARW shares. Citigroup upgraded shares of Arrow Electronics from a “sell” rating to a “neutral” rating in a research report on Friday, October 26th. Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, ValuEngine upgraded shares of Arrow Electronics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Arrow Electronics currently has a consensus rating of “Buy” and an average target price of $86.00.
About Arrow Electronics
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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