Pictet Asset Management Ltd. Lowers Stake in Arrow Electronics, Inc. (ARW)

Pictet Asset Management Ltd. lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,600 shares of the technology company’s stock after selling 2,200 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Arrow Electronics were worth $2,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Advisor Partners LLC raised its position in Arrow Electronics by 2.6% in the 2nd quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock worth $220,000 after purchasing an additional 71 shares during the period. Breton Hill Capital Ltd. raised its position in Arrow Electronics by 2.6% in the 2nd quarter. Breton Hill Capital Ltd. now owns 3,900 shares of the technology company’s stock worth $306,000 after purchasing an additional 100 shares during the period. Synovus Financial Corp raised its position in Arrow Electronics by 2.9% in the 2nd quarter. Synovus Financial Corp now owns 4,541 shares of the technology company’s stock worth $353,000 after purchasing an additional 126 shares during the period. M&T Bank Corp raised its position in Arrow Electronics by 2.1% in the 2nd quarter. M&T Bank Corp now owns 6,471 shares of the technology company’s stock worth $507,000 after purchasing an additional 136 shares during the period. Finally, Aviance Capital Partners LLC raised its position in Arrow Electronics by 0.7% in the 2nd quarter. Aviance Capital Partners LLC now owns 22,016 shares of the technology company’s stock worth $1,726,000 after purchasing an additional 160 shares during the period. Institutional investors own 93.13% of the company’s stock.

A number of equities research analysts have issued reports on ARW shares. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, September 11th. BidaskClub lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $83.25.

In related news, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the sale, the insider now owns 26,213 shares of the company’s stock, valued at $2,022,595.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Shares of Arrow Electronics, Inc. (NYSE ARW) opened at $78.07 on Tuesday. The firm has a market cap of $6,886.53, a PE ratio of 11.09, a PEG ratio of 0.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.58. Arrow Electronics, Inc. has a 52 week low of $63.93 and a 52 week high of $84.53.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Arrow Electronics had a net margin of 2.00% and a return on equity of 13.63%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts forecast that Arrow Electronics, Inc. will post 7.35 earnings per share for the current fiscal year.

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Arrow Electronics Profile

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.

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

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