Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 57,363 shares of the technology company’s stock after purchasing an additional 1,262 shares during the period. Raymond James & Associates’ holdings in Arrow Electronics were worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ARW. Rise Advisors LLC purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at about $32,000. Versant Capital Management Inc increased its position in Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after buying an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Arrow Electronics in the fourth quarter valued at approximately $56,000. Finally, GAMMA Investing LLC purchased a new position in shares of Arrow Electronics during the fourth quarter worth approximately $58,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Raymond James raised their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Truist Financial upped their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their target price on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and an average price target of $130.75.

Arrow Electronics Trading Up 0.2 %

Shares of ARW stock opened at $133.79 on Wednesday. The business’s fifty day moving average price is $124.68 and its 200 day moving average price is $124.85. The firm has a market capitalization of $7.12 billion, a PE ratio of 10.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $135.31.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the previous year, the firm earned $4.37 EPS. The business’s revenue was down 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.34 EPS 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.