Bessemer Group Inc. Takes $119,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Share on StockTwits

Bessemer Group Inc. bought a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,672 shares of the technology company’s stock, valued at approximately $119,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Andra AP fonden purchased a new position in shares of Arrow Electronics in the first quarter valued at $6,820,000. Greenleaf Trust purchased a new position in shares of Arrow Electronics in the first quarter valued at $834,000. AJO LP purchased a new position in shares of Arrow Electronics in the first quarter valued at $12,048,000. GAM Holding AG boosted its stake in shares of Arrow Electronics by 66.3% in the first quarter. GAM Holding AG now owns 14,558 shares of the technology company’s stock valued at $1,073,000 after purchasing an additional 5,805 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Arrow Electronics by 6.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 76,190 shares of the technology company’s stock valued at $5,430,000 after purchasing an additional 4,310 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Several brokerages have recently weighed in on ARW. TheStreet downgraded shares of Arrow Electronics from a “b-” rating to a “c” rating in a research note on Friday, August 2nd. Deutsche Bank assumed coverage on shares of Arrow Electronics in a research note on Tuesday, June 11th. They issued a “buy” rating and a $83.00 target price for the company. Cross Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Zacks Investment Research cut shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus cut their price target on shares of Arrow Electronics from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Arrow Electronics has a consensus rating of “Hold” and a consensus target price of $77.02.

Shares of NYSE:ARW opened at $66.04 on Friday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 2.23 and a beta of 1.39. Arrow Electronics, Inc. has a 1-year low of $62.35 and a 1-year high of $86.62. The company’s fifty day moving average is $69.65 and its two-hundred day moving average is $74.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.15 and a current ratio of 1.64.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. Sell-side analysts expect that Arrow Electronics, Inc. will post 7.25 EPS for the current fiscal year.

About Arrow Electronics

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.

Featured Story: What are economic reports?

Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.