Arrow Electronics, Inc. (NYSE:ARW) Insider Sells $606,075.28 in Stock

Arrow Electronics, Inc. (NYSE:ARW) insider Eric Nowak sold 4,952 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total value of $606,075.28. Following the completion of the sale, the insider now directly owns 43,895 shares of the company’s stock, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arrow Electronics Trading Down 0.1%

NYSE ARW opened at $121.61 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. Arrow Electronics, Inc. has a one year low of $86.50 and a one year high of $137.80. The business has a 50 day simple moving average of $106.04 and a 200 day simple moving average of $112.35. The stock has a market capitalization of $6.31 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.52 and a beta of 1.10.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.32 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Institutional Investors Weigh In On Arrow Electronics

Hedge funds have recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $25,000. Brown Brothers Harriman & Co. bought a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $31,000. Operose Advisors LLC bought a new position in shares of Arrow Electronics in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its holdings in shares of Arrow Electronics by 111.7% in the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ARW shares. Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company decreased their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Company Profile

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.