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

Arrow Electronics, Inc. (NYSE:ARW) shares gapped up prior to trading 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 changing hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lifted their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th.

Arrow Electronics Trading Up 2.7 %

The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.76 billion, a P/E ratio of 9.80 and a beta of 1.27. The firm’s 50 day simple moving average is $125.58 and its two-hundred day simple moving average is $122.77.

Arrow Electronics (NYSE:ARW) last posted its quarterly 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. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.60 earnings per share. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.34 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

In other news, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total transaction of $200,123.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total transaction of $200,123.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gail Hamilton sold 2,987 shares of the company’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 completion of the sale, the director now directly owns 102 shares of the company’s stock, valued at $13,524.18. The disclosure for this sale can be found here. Insiders sold a total of 5,976 shares of company stock valued at $788,183 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in Arrow Electronics by 10.5% in the second quarter. Natixis Advisors LLC now owns 144,571 shares of the technology company’s stock valued at $17,458,000 after acquiring an additional 13,726 shares during the last quarter. ACR Alpine Capital Research LLC purchased a new stake in shares of Arrow Electronics during the 2nd quarter valued at approximately $1,230,000. Van ECK Associates Corp lifted its stake in shares of Arrow Electronics by 7.9% during the 2nd quarter. Van ECK Associates Corp now owns 21,126 shares of the technology company’s stock valued at $2,551,000 after buying an additional 1,552 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Arrow Electronics by 128.7% during the 2nd quarter. Empirical Finance LLC now owns 8,511 shares of the technology company’s stock valued at $1,028,000 after buying an additional 4,789 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Arrow Electronics during the 2nd quarter valued at approximately $761,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

About Arrow Electronics

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.