Arrow Electronics, Inc. (NYSE:ARW) CEO Buys $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 stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $114.91 per share, with a total value of $991,673.30. Following the completion of the transaction, the chief executive officer owned 122,408 shares in the company, valued at $14,065,903.28. The trade was a 7.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Arrow Electronics Stock Up 1.7%

NYSE ARW traded up $1.97 on Friday, hitting $120.49. 79,395 shares of the company were exchanged, compared to its average volume of 552,039. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.20 billion, a PE ratio of 13.63, a PEG ratio of 0.55 and a beta of 1.10. The stock has a fifty day moving average of $125.93 and a 200-day moving average of $115.30. Arrow Electronics, Inc. has a 12 month low of $86.50 and a 12 month high of $137.80.

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

Hedge Funds Weigh In On Arrow Electronics

A number of institutional investors have recently modified their holdings of ARW. Farther Finance Advisors LLC lifted its stake in shares of Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company's stock valued at $28,000 after buying an additional 101 shares in the last quarter. Operose Advisors LLC bought a new stake in Arrow Electronics during the 1st quarter worth approximately $31,000. True Wealth Design LLC raised its stake in shares of Arrow Electronics by 660.0% in the second quarter. True Wealth Design LLC now owns 266 shares of the technology company's stock worth $34,000 after purchasing an additional 231 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Arrow Electronics by 1,547.1% in the second quarter. Hantz Financial Services Inc. now owns 280 shares of the technology company's stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Arrow Electronics by 68.1% during the first quarter. Geneos Wealth Management Inc. now owns 353 shares of the technology company's stock valued at $37,000 after buying an additional 143 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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