Arrow Electronics (NYSE:ARW) Releases Earnings Results, Beats Expectations By $0.87 EPS

Arrow Electronics (NYSE:ARW – Get Rating) released its quarterly earnings data on Thursday. The technology company reported $5.43 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.87, MarketWatch Earnings reports. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Arrow Electronics had a return on equity of 21.65% and a net margin of 3.21%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $2.84 EPS. Arrow Electronics updated its Q2 guidance to $5.48-$5.64 EPS.

Shares of ARW stock opened at $124.93 on Friday. Arrow Electronics has a one year low of $107.11 and a one year high of $137.95. The company’s 50-day moving average is $118.35 and its 200 day moving average is $123.18. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 2.16 and a beta of 1.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.03 and a current ratio of 1.40.

In related news, CFO Christopher Stansbury sold 52,993 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $121.60, for a total value of $6,443,948.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Vincent P. Melvin sold 20,477 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $122.14, for a total transaction of $2,501,060.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,580 shares of company stock worth $12,053,449. Insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JustInvest LLC raised its stake in Arrow Electronics by 43.2% during the 4th quarter. JustInvest LLC now owns 4,145 shares of the technology company’s stock worth $557,000 after acquiring an additional 1,250 shares during the period. Vident Investment Advisory LLC raised its stake in Arrow Electronics by 3.7% during the 4th quarter. Vident Investment Advisory LLC now owns 21,835 shares of the technology company’s stock worth $2,931,000 after acquiring an additional 789 shares during the period. Forum Financial Management LP bought a new stake in Arrow Electronics during the 4th quarter worth approximately $231,000. Goldman Sachs Group Inc. raised its position in shares of Arrow Electronics by 39.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 491,049 shares of the technology company’s stock valued at $65,934,000 after buying an additional 139,891 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Arrow Electronics during the fourth quarter valued at approximately $649,000. Institutional investors own 93.38% of the company’s stock.

A number of brokerages have issued reports on ARW. StockNews.com assumed coverage on shares of Arrow Electronics in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective for the company in a report on Tuesday, February 8th. Truist Financial decreased their price objective on shares of Arrow Electronics from $143.00 to $126.00 and set a “hold” rating for the company in a report on Friday, April 8th. Finally, Raymond James upgraded shares of Arrow Electronics from a “market perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Wednesday, February 2nd.

Arrow Electronics Company Profile (Get Rating)

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.

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