Park Place Capital Corp Has $43,000 Stake in Arrow Electronics, Inc. (NYSE:ARW)

Park Place Capital Corp trimmed its stake in Arrow Electronics, Inc. (NYSE:ARW) by 49.9% during the 1st quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ARW. FMR LLC grew its position in Arrow Electronics by 0.5% in the 3rd quarter. FMR LLC now owns 71,795 shares of the technology company’s stock worth $8,992,000 after purchasing an additional 333 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Arrow Electronics by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 25,163 shares of the technology company’s stock worth $3,151,000 after acquiring an additional 130 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Arrow Electronics by 122.1% during the 3rd quarter. Bank of Nova Scotia now owns 12,832 shares of the technology company’s stock worth $1,607,000 after acquiring an additional 7,054 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Arrow Electronics by 42.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after acquiring an additional 349,561 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Arrow Electronics by 5.6% during the 3rd quarter. Earnest Partners LLC now owns 1,149,992 shares of the technology company’s stock worth $144,025,000 after acquiring an additional 60,873 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arrow Electronics

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

Wall Street Analyst Weigh In

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

Arrow Electronics Price Performance

NYSE:ARW opened at $119.26 on Tuesday. The company has a 50-day moving average of $128.36 and a 200-day moving average of $122.59. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 9.38 and a beta of 1.27. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $147.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. During the same period last year, the firm posted $4.60 EPS. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.37 earnings per share for the current fiscal year.

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.