Arrow Electronics, Inc. (NYSE:ARW) CEO Purchases $991,673.30 in Stock

Key Points

• Arrow Electronics CEO Sean J. Kerins purchased $991,673.30 worth of stock, acquiring 8,630 shares at an average price of $114.91 each, increasing his total ownership to 122,408 shares.
• The company reported a quarterly earnings per share (EPS) of $2.43, exceeding analysts’ expectations by $0.40, with revenue of $7.58 billion, a 10% increase from the prior year.
• Wall Street analysts assigned Arrow Electronics a consensus rating of "Hold", with some upgrades, including a rating change from "Hold" to "Buy" by Wall Street Zen.

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) CEO Sean J. Kerins bought 8,630 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $114.91 per share, with a total value of $991,673.30. Following the acquisition, the chief executive officer directly owned 122,408 shares in the company, valued at approximately $14,065,903.28. This trade represents a 7.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arrow Electronics Stock Performance

NYSE ARW traded up $1.36 during trading hours on Monday, hitting $116.02. The company had a trading volume of 673,624 shares, compared to its average volume of 554,749. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $137.80. The firm has a market cap of $6.02 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The business has a fifty day simple moving average of $126.06 and a 200-day simple moving average of $115.27. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.37.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The company had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the prior year, the business posted $2.78 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Arrow Electronics by 33.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company's stock worth $1,232,000 after purchasing an additional 2,982 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Arrow Electronics by 111.7% during the first quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new position in Arrow Electronics during the first quarter valued at about $356,000. GAMMA Investing LLC boosted its stake in Arrow Electronics by 201.3% during the first quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company's stock valued at $270,000 after buying an additional 1,735 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Arrow Electronics by 99.5% during the first quarter. Edgestream Partners L.P. now owns 115,474 shares of the technology company's stock valued at $11,990,000 after buying an additional 57,590 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

ARW has been the subject of several recent research reports. Wall Street Zen raised shares of Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Bank of America increased their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Arrow Electronics has a consensus rating of "Hold" and a consensus price target of $115.75.

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.

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