CenturyLink Investment Management Co Reduces Stake in Arrow Electronics, Inc. (NYSE:ARW)

CenturyLink Investment Management Co lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,231 shares of the technology company’s stock after selling 2,412 shares during the period. CenturyLink Investment Management Co’s holdings in Arrow Electronics were worth $1,061,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Arrow Electronics by 1.8% in the 2nd quarter. BlackRock Inc. now owns 8,787,733 shares of the technology company’s stock valued at $626,303,000 after acquiring an additional 159,524 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Arrow Electronics by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 8,118,065 shares of the technology company’s stock valued at $578,574,000 after acquiring an additional 24,584 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in shares of Arrow Electronics by 21.8% in the 2nd quarter. Longview Partners Guernsey LTD now owns 3,511,592 shares of the technology company’s stock valued at $250,271,000 after acquiring an additional 627,865 shares in the last quarter. Boston Partners raised its holdings in shares of Arrow Electronics by 4.0% in the 2nd quarter. Boston Partners now owns 2,740,306 shares of the technology company’s stock valued at $195,277,000 after acquiring an additional 104,812 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Arrow Electronics by 14.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,924,295 shares of the technology company’s stock valued at $135,855,000 after acquiring an additional 240,829 shares in the last quarter. 94.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ARW opened at $75.64 on Thursday. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 10.19 and a beta of 1.36. The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.65. Arrow Electronics, Inc. has a 1-year low of $62.35 and a 1-year high of $86.62. The stock’s 50-day moving average is $73.26 and its 200 day moving average is $72.34.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. On average, analysts forecast that Arrow Electronics, Inc. will post 7.25 EPS for the current fiscal year.

In related news, insider Charles Kostalnick II sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $68.11, for a total transaction of $217,952.00. Following the transaction, the insider now directly owns 8,214 shares in the company, valued at approximately $559,455.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher Stansbury sold 57,550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $68.87, for a total value of $3,963,468.50. Following the transaction, the chief financial officer now owns 32,481 shares in the company, valued at $2,236,966.47. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

ARW has been the topic of several recent analyst reports. ValuEngine raised Arrow Electronics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price objective on the stock. in a report on Wednesday, July 3rd. TheStreet cut Arrow Electronics from a “b-” rating to a “c” rating in a report on Friday, August 2nd. Stifel Nicolaus decreased their price objective on Arrow Electronics from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, Citigroup raised their price objective on Arrow Electronics from $68.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $77.02.

Arrow Electronics Company Profile

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.

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

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