Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 42.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,811 shares of the technology company's stock after buying an additional 2,918 shares during the period. Lazard Asset Management LLC's holdings in Arrow Electronics were worth $1,109,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Meixler Investment Management Ltd. boosted its holdings in Arrow Electronics by 2.6% in the 4th quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company's stock worth $387,000 after buying an additional 88 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Arrow Electronics by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company's stock worth $539,000 after buying an additional 89 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in Arrow Electronics by 0.4% in the 4th quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company's stock worth $2,550,000 after buying an additional 100 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Arrow Electronics by 24.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock worth $64,000 after buying an additional 112 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock worth $54,000 after buying an additional 126 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. Bank of America cut Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Arrow Electronics presently has an average rating of "Hold" and an average price target of $121.25.

Arrow Electronics Trading Down 0.8%

Shares of Arrow Electronics stock opened at $120.94 on Tuesday. The stock has a market cap of $6.27 billion, a P/E ratio of 16.61, a P/E/G ratio of 0.52 and a beta of 1.10. The stock's 50 day simple moving average is $107.24 and its 200-day simple moving average is $112.02. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08.

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

Insider Activity

In other news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $112.11, for a total transaction of $39,574.83. Following the sale, the chief accounting officer now owns 1,549 shares of the company's stock, valued at approximately $173,658.39. The trade was a 18.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Austen purchased 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the transaction, the director now owns 7,858 shares in the company, valued at approximately $818,174.96. This trade represents a 31.89% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 6,763 shares of company stock valued at $824,095. 1.00% of the stock is currently owned by company insiders.

Arrow Electronics Company Profile

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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