Beacon Financial Group Lowers stake in Arrow Electronics (ARW)

Arrow Electronics (ARW) : Beacon Financial Group reduced its stake in Arrow Electronics by 0.4% during the most recent quarter end. The investment management company now holds a total of 9,611 shares of Arrow Electronics which is valued at $627,791 after selling 39 shares in Arrow Electronics according to a report filed by the company on Apr 1, 2016 with the SEC.Arrow Electronics makes up approximately 0.14% of Beacon Financial Group’s portfolio.

On the company’s financial health, Arrow Electronics reported $1.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $1.82. The company had revenue of $6751.34 million for the quarter, compared to analysts expectations of $6343.23 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS.

Many Wall Street Analysts have commented on Arrow Electronics. Arrow Electronics was Upgraded by Goldman to ” Buy” on Mar 14, 2016. Arrow Electronics was Upgraded by Longbow to ” Buy” on Jan 22, 2016.

Arrow Electronics closed down -0.05 points or -0.08% at $63.21 with 2,91,382 shares getting traded on Monday. Post opening the session at $63.68, the shares hit an intraday low of $63.14 and an intraday high of $64.45 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Arrow Electronics Inc. (Arrow) is a provider of products services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions (ECS) suppliers coupled with a range of services solutions and tools for industrial and commercial customers. The Company operates in two business segments: the global components business and the global enterprise computing solutions business. The global components business segment is a provider of online catalogs for electronic components; cloud-based design tools; factory-direct end-of-life product inventory and disposition solutions to redeploy remarket and recycle technology assets. The global ECS business segment provides enterprise and midrange computing products services and solutions to value-added resellers (VARs) in the Americas EMEA and Asia Pacific regions.

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