Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARWGet Rating) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,314 shares of the technology company’s stock after selling 2,859 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Arrow Electronics worth $5,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARW. Los Angeles Capital Management LLC grew its position in Arrow Electronics by 372.1% during the first quarter. Los Angeles Capital Management LLC now owns 432,288 shares of the technology company’s stock valued at $51,282,000 after buying an additional 340,716 shares during the period. Woodline Partners LP grew its position in Arrow Electronics by 149.5% during the fourth quarter. Woodline Partners LP now owns 486,443 shares of the technology company’s stock valued at $65,315,000 after buying an additional 291,490 shares during the period. Bank of Nova Scotia purchased a new position in Arrow Electronics during the first quarter valued at $21,824,000. Robeco Institutional Asset Management B.V. lifted its holdings in Arrow Electronics by 19.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 934,101 shares of the technology company’s stock valued at $110,815,000 after purchasing an additional 152,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Arrow Electronics by 39.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 491,049 shares of the technology company’s stock valued at $65,934,000 after purchasing an additional 139,891 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $97.40 on Tuesday. Arrow Electronics, Inc. has a 12-month low of $94.45 and a 12-month high of $137.95. The stock has a market cap of $6.25 billion, a P/E ratio of 4.84, a PEG ratio of 1.26 and a beta of 1.39. The company has a 50-day moving average price of $111.60 and a 200 day moving average price of $115.38. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Arrow Electronics (NYSE:ARWGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $5.78 earnings per share for the quarter, beating analysts’ consensus estimates of $5.57 by $0.21. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Arrow Electronics had a net margin of 3.87% and a return on equity of 26.76%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 earnings per share. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 21.81 earnings per share for the current year.

Arrow Electronics declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARW shares. StockNews.com downgraded shares of Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 18th. The Goldman Sachs Group cut their price objective on shares of Arrow Electronics from $158.00 to $127.00 in a research report on Friday, July 15th. Finally, Wells Fargo & Company cut shares of Arrow Electronics from an “equal weight” rating to an “underweight” rating in a research report on Friday.

About Arrow Electronics

(Get Rating)

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.

Featured Stories

Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARWGet Rating).

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

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.