Arrow Electronics, Inc. (NYSE:ARW) Stock Holdings Reduced by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in Arrow Electronics, Inc. (NYSE:ARW) by 15.5% during the second quarter, HoldingsChannel.com reports. The firm owned 13,257 shares of the technology company’s stock after selling 2,439 shares during the quarter. Toronto Dominion Bank’s holdings in Arrow Electronics were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARW. Geode Capital Management LLC grew its stake in Arrow Electronics by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock valued at $63,269,000 after purchasing an additional 86,631 shares in the last quarter. Stephens Inc. AR purchased a new position in Arrow Electronics in the first quarter valued at about $321,000. Raymond James Financial Services Advisors Inc. grew its stake in Arrow Electronics by 2.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,050 shares of the technology company’s stock valued at $697,000 after purchasing an additional 257 shares in the last quarter. Greenleaf Trust purchased a new position in Arrow Electronics in the first quarter valued at about $834,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Arrow Electronics in the first quarter valued at about $1,740,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

In related news, CFO Christopher Stansbury sold 57,550 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the completion of the sale, the chief financial officer now owns 32,481 shares in the company, valued at approximately $2,236,966.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Kostalnick II sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $68.11, for a total value of $217,952.00. Following the sale, the insider now owns 8,214 shares of the company’s stock, valued at approximately $559,455.54. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

ARW has been the topic of a number of recent research reports. ValuEngine upgraded Arrow Electronics from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Deutsche Bank started coverage on Arrow Electronics in a research note on Tuesday, June 11th. They set a “buy” rating and a $83.00 price target for the company. Zacks Investment Research downgraded Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target for the company. in a research note on Wednesday, July 3rd. Raymond James downgraded Arrow Electronics from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $88.00 to $80.00 in a research note on Tuesday, July 2nd. Finally, Cross Research downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.02.

Shares of ARW traded up $0.07 during trading hours on Thursday, hitting $75.55. 9,874 shares of the company were exchanged, compared to its average volume of 496,993. The company has a market cap of $6.33 billion, a PE ratio of 8.56, a PEG ratio of 2.46 and a beta of 1.38. The firm’s 50 day moving average is $70.40 and its 200-day moving average is $72.90. Arrow Electronics, Inc. has a 52 week low of $62.35 and a 52 week high of $86.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.15 and a current ratio of 1.64.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.04. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. As a group, equities analysts forecast that Arrow Electronics, Inc. will post 7.25 earnings per share for the current fiscal year.

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

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