Deutsche Bank AG decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,388 shares of the technology company’s stock after selling 32,342 shares during the period. Deutsche Bank AG’s holdings in Arrow Electronics were worth $19,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ARW. Rockefeller Capital Management L.P. raised its stake in Arrow Electronics by 303.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 246 shares of the technology company’s stock valued at $27,000 after purchasing an additional 185 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in Arrow Electronics in the 3rd quarter valued at $31,000. Advisory Services Network LLC acquired a new position in Arrow Electronics in the 2nd quarter valued at $49,000. Van ECK Associates Corp raised its stake in Arrow Electronics by 137.7% in the 2nd quarter. Van ECK Associates Corp now owns 435 shares of the technology company’s stock valued at $50,000 after purchasing an additional 252 shares during the last quarter. Finally, Parisi Gray Wealth Management acquired a new position in Arrow Electronics in the 2nd quarter valued at $99,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.
Shares of ARW opened at $132.98 on Friday. Arrow Electronics, Inc. has a 52-week low of $96.40 and a 52-week high of $137.95. The company has a market capitalization of $9.26 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The stock has a fifty day simple moving average of $126.51 and a two-hundred day simple moving average of $119.39. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.39.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, November 4th. The technology company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.50. The firm had revenue of $8.51 billion during the quarter, compared to the consensus estimate of $8.59 billion. Arrow Electronics had a return on equity of 19.22% and a net margin of 2.87%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 14.6 earnings per share for the current fiscal year.
Arrow Electronics declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 17th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Separately, Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “strong-buy” rating and set a $139.00 price objective for the company in a research note on Tuesday, November 9th.
In related news, insider Charles Kostalnick II sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $122.45, for a total transaction of $367,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent P. Melvin sold 8,748 shares of the firm’s stock in a transaction dated Monday, November 29th. The shares were sold at an average price of $124.25, for a total value of $1,086,939.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Arrow Electronics Company Profile
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
Further Reading: How a Put Option Works
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:ARW).
Want More Great Investing Ideas?