Lazard Asset Management LLC Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Lazard Asset Management LLC raised its position in Arrow Electronics, Inc. (NYSE:ARW) by 42.3% during the fourth quarter, Holdings Channel reports. The firm owned 9,811 shares of the technology company’s stock after buying an additional 2,918 shares during the quarter. Lazard Asset Management LLC’s holdings in Arrow Electronics were worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. raised its position in Arrow Electronics by 2.6% in the fourth quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company’s stock valued at $387,000 after purchasing an additional 88 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Arrow Electronics by 1.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,766 shares of the technology company’s stock worth $539,000 after acquiring an additional 89 shares during the period. Ironwood Investment Management LLC increased its position in shares of Arrow Electronics by 0.4% during the fourth quarter. Ironwood Investment Management LLC now owns 22,545 shares of the technology company’s stock worth $2,550,000 after acquiring an additional 100 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Arrow Electronics by 24.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock worth $64,000 after acquiring an additional 112 shares during the period. Finally, Principal Securities Inc. increased its position in shares of Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 0.8%

Arrow Electronics stock opened at $120.94 on Tuesday. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The stock’s fifty day simple moving average is $107.24 and its 200-day simple 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. The firm has a market capitalization 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.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. The firm had revenue of $6.81 billion during 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 company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 earnings per share. As a group, equities analysts expect that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William F. Austen bought 1,900 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the transaction, the insider now owns 43,895 shares of the company’s stock, valued at approximately $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,763 shares of company stock worth $824,095. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ARW has been the topic of a number of recent research reports. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics 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.