Panagora Asset Management Inc. raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 58.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,315 shares of the technology company’s stock after buying an additional 4,545 shares during the quarter. Panagora Asset Management Inc.’s holdings in Arrow Electronics were worth $878,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ARW. Advisory Services Network LLC boosted its holdings in shares of Arrow Electronics by 199.5% during the second quarter. Advisory Services Network LLC now owns 608 shares of the technology company’s stock worth $43,000 after purchasing an additional 405 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Arrow Electronics by 92.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 672 shares of the technology company’s stock valued at $48,000 after acquiring an additional 322 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Arrow Electronics in the first quarter valued at $55,000. Steward Partners Investment Advisory LLC acquired a new position in Arrow Electronics in the second quarter valued at $66,000. Finally, Buffington Mohr McNeal acquired a new position in Arrow Electronics in the first quarter valued at $77,000. Hedge funds and other institutional investors own 95.48% of the company’s stock.

In other news, insider Charles Kostalnick II sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $68.11, for a total transaction of $217,952.00. Following the completion of the transaction, the insider now directly owns 8,214 shares in the company, valued at $559,455.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Several research analysts have commented on the company. Zacks Investment Research lowered Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research report on Wednesday, July 3rd. Raymond James lowered Arrow Electronics from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $88.00 to $80.00 in a research report on Tuesday, July 2nd. TheStreet lowered Arrow Electronics from a “b-” rating to a “c” rating in a research report on Friday, August 2nd. Cross Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $77.02.

Arrow Electronics stock traded up $0.87 during midday trading on Wednesday, hitting $68.63. The stock had a trading volume of 8,137 shares, compared to its average volume of 681,347. The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.65. The stock has a market cap of $5.75 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.20 and a beta of 1.39. Arrow Electronics, Inc. has a 12 month low of $62.35 and a 12 month high of $86.62. The business has a fifty day moving average price of $69.35 and a 200 day moving average price of $74.07.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, equities analysts anticipate that Arrow Electronics, Inc. will post 7.25 EPS for the current fiscal year.

Arrow Electronics Company Profile

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

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