Public Employees Retirement System of Ohio Boosts Position in Arrow Electronics, Inc. (ARW)
Public Employees Retirement System of Ohio lifted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 92.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,112 shares of the technology company’s stock after acquiring an additional 27,862 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of Arrow Electronics worth $4,673,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its position in Arrow Electronics by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 359,888 shares of the technology company’s stock worth $28,223,000 after buying an additional 14,976 shares during the period. State of Wisconsin Investment Board increased its position in Arrow Electronics by 20.8% in the second quarter. State of Wisconsin Investment Board now owns 73,737 shares of the technology company’s stock worth $5,782,000 after buying an additional 12,680 shares during the period. Legal & General Group Plc increased its position in Arrow Electronics by 5.1% in the second quarter. Legal & General Group Plc now owns 544,809 shares of the technology company’s stock worth $42,725,000 after buying an additional 26,591 shares during the period. BB&T Securities LLC acquired a new stake in Arrow Electronics in the second quarter worth $362,000. Finally, Prudential Financial Inc. increased its position in Arrow Electronics by 57.9% in the second quarter. Prudential Financial Inc. now owns 465,233 shares of the technology company’s stock worth $36,483,000 after buying an additional 170,570 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total transaction of $300,967.92. Following the completion of the transaction, the insider now owns 25,552 shares of the company’s stock, valued at $2,015,286.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gail Hamilton sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $78.33, for a total value of $375,984.00. Following the transaction, the director now directly owns 91 shares of the company’s stock, valued at approximately $7,128.03. The disclosure for this sale can be found here. Insiders have sold 10,032 shares of company stock worth $788,816 over the last three months. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have recently commented on ARW. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price target on shares of Arrow Electronics in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $83.25.
Arrow Electronics, Inc. (ARW) opened at $79.78 on Wednesday. The company has a market capitalization of $7,073.03, a price-to-earnings ratio of 14.05, a PEG ratio of 0.96 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.57. Arrow Electronics, Inc. has a fifty-two week low of $68.55 and a fifty-two week high of $84.53.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.58 billion. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. sell-side analysts predict that Arrow Electronics, Inc. will post 7.35 EPS for the current fiscal year.
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Arrow Electronics 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.
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