Park Place Capital Corp Cuts Position in Arrow Electronics, Inc. (NYSE:ARW)

Park Place Capital Corp reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 49.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334 shares of the technology company’s stock after selling 333 shares during the period. Park Place Capital Corp’s holdings in Arrow Electronics were worth $43,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in shares of Arrow Electronics by 10.4% during the 4th quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock worth $748,000 after purchasing an additional 575 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Arrow Electronics during the 4th quarter worth approximately $1,012,000. AustralianSuper Pty Ltd boosted its holdings in shares of Arrow Electronics by 172.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 92,990 shares of the technology company’s stock worth $11,368,000 after purchasing an additional 58,866 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Arrow Electronics in the fourth quarter valued at approximately $1,259,000. Finally, Norges Bank acquired a new position in Arrow Electronics in the fourth quarter valued at approximately $79,027,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th.

Arrow Electronics Stock Down 1.2 %

Shares of NYSE ARW opened at $119.26 on Tuesday. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 9.38 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $147.42. The business’s 50 day moving average is $128.36 and its two-hundred day moving average is $122.59.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.60 earnings per share. Research analysts predict that Arrow Electronics, Inc. will post 10.37 EPS for the current year.

Insider Buying and Selling at Arrow Electronics

In other news, Director Andrew Charles Kerin sold 1,469 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $130.71, for a total transaction of $192,012.99. Following the sale, the director now owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrew Charles Kerin sold 1,469 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $130.71, for a total transaction of $192,012.99. Following the sale, the director now owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gail Hamilton sold 2,987 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the sale, the director now directly owns 102 shares in the company, valued at approximately $13,524.18. The disclosure for this sale can be found here. Insiders have sold a total of 5,976 shares of company stock valued at $788,183 over the last quarter. 0.60% of the stock is 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.