Arrow Electronics (NYSE:ARW) Shares Gap Up to $123.69

Arrow Electronics, Inc. (NYSE:ARW)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $123.69, but opened at $131.70. Arrow Electronics shares last traded at $124.76, with a volume of 235,106 shares traded.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th.

Arrow Electronics Trading Up 2.7 %

The company has a fifty day moving average of $125.58 and a 200-day moving average of $122.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.07. The firm has a market capitalization of $6.76 billion, a PE ratio of 9.80 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.04. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period last year, the company earned $4.60 earnings per share. The business’s revenue was down 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the transaction, the director now directly owns 102 shares in the company, valued at $13,524.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gail Hamilton sold 2,987 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the sale, the director now directly owns 102 shares of the company’s stock, valued at $13,524.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew Charles Kerin sold 1,520 shares of Arrow Electronics stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $131.66, for a total value of $200,123.20. The disclosure for this sale can be found here. Insiders have sold a total of 5,976 shares of company stock worth $788,183 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Arrow Electronics

Institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in shares of Arrow Electronics by 10.4% in the fourth quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock worth $748,000 after purchasing an additional 575 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Arrow Electronics in the fourth quarter worth about $1,259,000. Norges Bank bought a new position in Arrow Electronics during the fourth quarter valued at about $79,027,000. Mackenzie Financial Corp increased its stake in Arrow Electronics by 182.4% during the fourth quarter. Mackenzie Financial Corp now owns 40,472 shares of the technology company’s stock valued at $4,948,000 after acquiring an additional 26,142 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Arrow Electronics by 40.7% during the fourth quarter. BNP Paribas Financial Markets now owns 214,327 shares of the technology company’s stock valued at $26,201,000 after acquiring an additional 61,957 shares during the period. 99.34% of the stock is currently owned by institutional investors.

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.