Arrow Electronics (NYSE:ARW) Sees Strong Trading Volume - Here's What Happened

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) saw strong trading volume on Friday . 292,680 shares traded hands during mid-day trading, a decline of 40% from the previous session's volume of 490,571 shares.The stock last traded at $117.40 and had previously closed at $118.52.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America downgraded shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research note on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research note on Friday, February 7th.

Arrow Electronics Stock Down 0.7%

The company has a market cap of $6.15 billion, a PE ratio of 16.27, a P/E/G ratio of 0.52 and a beta of 1.10. The company's 50 day moving average is $109.52 and its 200 day moving average is $112.02. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.47 by $0.33. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.41 EPS. As a group, analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arrow Electronics news, Director Gail Hamilton sold 1,458 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $178,444.62. Following the transaction, the director now directly owns 101 shares in the company, valued at $12,361.39. This represents a 93.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Austen bought 1,900 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the acquisition, the director now owns 7,858 shares in the company, valued at $818,174.96. This represents a 31.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARW. BOK Financial Private Wealth Inc. bought a new stake in shares of Arrow Electronics in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. bought a new stake in shares of Arrow Electronics in the 4th quarter valued at about $31,000. Operose Advisors LLC bought a new stake in shares of Arrow Electronics in the 1st quarter valued at about $31,000. Geneos Wealth Management Inc. boosted its holdings in shares of Arrow Electronics by 68.1% in the 1st 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 in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Arrow Electronics by 111.7% in the 1st 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. 99.34% of the stock is currently owned by 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.