Oregon Public Employees Retirement Fund lifted its position in Arrow Electronics, Inc. (NYSE:ARW) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,880 shares of the technology company’s stock after purchasing an additional 1,474 shares during the quarter. Oregon Public Employees Retirement Fund owned 0.08% of Arrow Electronics worth $5,539,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ARW. BlackRock Inc. lifted its stake in Arrow Electronics by 0.4% in the fourth quarter. BlackRock Inc. now owns 8,654,725 shares of the technology company’s stock valued at $596,743,000 after buying an additional 38,557 shares during the period. Vanguard Group Inc raised its position in shares of Arrow Electronics by 0.9% during the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after purchasing an additional 70,647 shares during the period. JPMorgan Chase & Co. raised its position in shares of Arrow Electronics by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock worth $423,313,000 after purchasing an additional 370,095 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Arrow Electronics by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,466,756 shares of the technology company’s stock worth $239,030,000 after purchasing an additional 34,362 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Arrow Electronics by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock worth $63,269,000 after purchasing an additional 86,631 shares during the period. Institutional investors and hedge funds own 93.08% of the company’s stock.
A number of equities research analysts have recently commented on the company. Deutsche Bank initiated coverage on Arrow Electronics in a research report on Tuesday. They set a “buy” rating and a $83.00 price target on the stock. ValuEngine downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Bank of America downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price target for the company. in a research note on Monday, May 6th. Finally, Zacks Investment Research downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $81.07.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. Analysts anticipate that Arrow Electronics, Inc. will post 8.49 EPS for the current year.
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Arrow Electronics Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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