Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 140,469 shares of the technology company’s stock after acquiring an additional 7,910 shares during the period. Envestnet Asset Management Inc.’s holdings in Arrow Electronics were worth $16,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARW. Norges Bank acquired a new stake in Arrow Electronics in the 4th quarter valued at about $79,027,000. Boston Partners increased its position in shares of Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after acquiring an additional 521,117 shares in the last quarter. Lind Value II ApS purchased a new position in shares of Arrow Electronics in the first quarter worth approximately $66,949,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Arrow Electronics by 56.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 851,790 shares of the technology company’s stock valued at $104,131,000 after acquiring an additional 306,371 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Arrow Electronics by 11,546.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 220,347 shares of the technology company’s stock worth $26,937,000 after purchasing an additional 218,455 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARW has been the topic of several recent analyst reports. Raymond James boosted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial increased their price objective on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. 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. Finally, Wells Fargo & Company increased their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Performance

Shares of NYSE ARW opened at $132.09 on Tuesday. 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 one year low of $108.51 and a one year high of $136.93. The business’s 50-day moving average price is $127.66 and its two-hundred day moving average price is $126.62. The company has a market capitalization of $7.03 billion, a P/E ratio of 10.38 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.62. The business had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm’s revenue was down 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 EPS. Analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

About Arrow Electronics

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.