Todays Report: The Quantbot Technologies LP Acquires New Stake in Arrow Electronics Inc. (ARW)

The Quantbot Technologies LP Acquires New Stake in Arrow Electronics Inc. (ARW)

Quantbot Technologies LP acquired a new position in Arrow Electronics Inc. (NYSE:ARW) during the second quarter, Holdings Channel reports. The firm acquired 32,070 shares of the company’s stock, valued at approximately $1,985,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Arrow Electronics by 0.9% in the first quarter. Wellington Management Group LLP now owns 5,858,273 shares of the company’s stock worth $377,331,000 after buying an additional 53,726 shares during the period. State Street Corp raised its position in shares of Arrow Electronics by 5.9% in the first quarter. State Street Corp now owns 3,371,433 shares of the company’s stock valued at $217,158,000 after buying an additional 188,760 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Arrow Electronics by 41.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,037,103 shares of the company’s stock valued at $66,800,000 after buying an additional 304,909 shares during the period. James Investment Research Inc. raised its position in shares of Arrow Electronics by 56.5% in the second quarter. James Investment Research Inc. now owns 589,284 shares of the company’s stock valued at $36,476,000 after buying an additional 212,808 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Arrow Electronics by 3.0% in the first quarter. Geode Capital Management LLC now owns 579,101 shares of the company’s stock valued at $37,280,000 after buying an additional 16,737 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Shares of Arrow Electronics Inc. (NYSE:ARW) traded down 0.60% during midday trading on Friday, reaching $60.95. The company’s stock had a trading volume of 310,385 shares. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 11.23 and a beta of 1.49. The firm’s 50 day moving average is $62.72 and its 200 day moving average is $63.86. Arrow Electronics Inc. has a 52 week low of $45.23 and a 52 week high of $68.07.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.01. Arrow Electronics had a return on equity of 13.94% and a net margin of 2.13%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that Arrow Electronics Inc. will post $6.67 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. Citigroup Inc. upped their price target on Arrow Electronics from $48.00 to $57.00 and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 5th. Goldman Sachs Group Inc. downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $63.00 in a report on Tuesday, September 20th. Finally, Brean Capital set a $70.00 price objective on Arrow Electronics and gave the company a “buy” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Arrow Electronics has an average rating of “Hold” and a consensus price target of $63.33.

In other news, General Counsel Gregory Tarpinian sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $66.40, for a total transaction of $66,400.00. Following the sale, the general counsel now owns 6,099 shares in the company, valued at $404,973.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael J. Long sold 44,777 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $66.35, for a total value of $2,970,953.95. Following the sale, the chairman now owns 308,393 shares in the company, valued at approximately $20,461,875.55. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

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. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

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