Crossmark Global Holdings Inc. grew its stake in Arrow Electronics, Inc. (NYSE:ARW) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,095 shares of the technology company’s stock after purchasing an additional 310 shares during the period. Crossmark Global Holdings Inc.’s holdings in Arrow Electronics were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Arrow Electronics by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock worth $423,313,000 after purchasing an additional 370,095 shares in the last quarter. Man Group plc bought a new position in shares of Arrow Electronics in the 3rd quarter worth $293,000. Morgan Stanley lifted its holdings in shares of Arrow Electronics by 13.0% in the 3rd quarter. Morgan Stanley now owns 261,153 shares of the technology company’s stock worth $19,254,000 after purchasing an additional 29,974 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Arrow Electronics by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after purchasing an additional 70,647 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Arrow Electronics by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 9,239 shares of the technology company’s stock worth $637,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.
A number of brokerages recently issued reports on ARW. Bank of America cut Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 target price on the stock. in a report on Monday, May 6th. Stifel Nicolaus cut Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price on the stock. in a report on Friday, February 1st. ValuEngine cut Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, SunTrust Banks raised their price objective on Arrow Electronics to $84.00 and gave the company a “hold” rating in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.21.
Shares of NYSE:ARW opened at $68.48 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. Arrow Electronics, Inc. has a 1-year low of $62.69 and a 1-year high of $86.62. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 2.99 and a beta of 1.16.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the business posted $1.88 earnings per share. Arrow Electronics’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 8.49 earnings per share for the current year.
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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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