Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its stake in shares of Arrow Electronics, Inc. (NYSE:ARWGet Rating) by 20.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,895 shares of the technology company’s stock after purchasing an additional 326 shares during the period. Lazard Asset Management LLC’s holdings in Arrow Electronics were worth $212,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ARW. Veritable L.P. raised its position in shares of Arrow Electronics by 1.0% in the first quarter. Veritable L.P. now owns 9,782 shares of the technology company’s stock valued at $1,160,000 after buying an additional 100 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of Arrow Electronics by 3.5% in the first quarter. Wetherby Asset Management Inc. now owns 3,021 shares of the technology company’s stock valued at $358,000 after buying an additional 101 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Arrow Electronics by 4.4% in the first quarter. Neuberger Berman Group LLC now owns 2,837 shares of the technology company’s stock valued at $337,000 after buying an additional 119 shares during the last quarter. Ellevest Inc. raised its position in shares of Arrow Electronics by 9.0% in the second quarter. Ellevest Inc. now owns 1,584 shares of the technology company’s stock valued at $178,000 after buying an additional 131 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Arrow Electronics by 4.2% in the first quarter. Oppenheimer & Co. Inc. now owns 4,435 shares of the technology company’s stock valued at $526,000 after buying an additional 177 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Trading Up 0.9 %

Shares of ARW opened at $108.07 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60. Arrow Electronics, Inc. has a 12-month low of $89.38 and a 12-month high of $137.95. The firm has a 50-day moving average price of $99.33 and a 200 day moving average price of $109.60. The firm has a market capitalization of $6.65 billion, a P/E ratio of 5.05, a P/E/G ratio of 1.18 and a beta of 1.38.

Arrow Electronics (NYSE:ARWGet Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported $5.45 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.06. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.28 billion. Arrow Electronics had a net margin of 3.93% and a return on equity of 27.82%. Arrow Electronics’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.04 earnings per share. Sell-side analysts forecast that Arrow Electronics, Inc. will post 22.21 EPS for the current year.

Arrow Electronics declared that its Board of Directors has authorized a stock buyback program on Thursday, September 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Arrow Electronics in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Stifel Nicolaus dropped their price objective on shares of Arrow Electronics from $130.00 to $105.00 and set a “hold” rating for the company in a report on Monday, October 10th. Finally, Wells Fargo & Company lowered shares of Arrow Electronics from an “equal weight” rating to an “underweight” rating in a report on Friday, September 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.00.

Insiders Place Their Bets

In other Arrow Electronics news, SVP Vincent P. Melvin sold 6,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $112.03, for a total transaction of $672,180.00. Following the completion of the transaction, the senior vice president now owns 19,381 shares of the company’s stock, valued at $2,171,253.43. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Arrow Electronics Company Profile

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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.

See Also

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)

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