Charles Schwab Investment Management Inc. Acquires 10,340 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Charles Schwab Investment Management Inc. raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 483,936 shares of the technology company’s stock after acquiring an additional 10,340 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Arrow Electronics were worth $64,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after acquiring an additional 294 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Arrow Electronics in the third quarter worth $73,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics in the 3rd quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arrow Electronics in the 3rd quarter valued at $88,000. Finally, GAMMA Investing LLC raised its stake in Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Up 0.8 %

NYSE:ARW opened at $120.30 on Friday. The stock has a 50-day simple moving average of $126.96 and a 200 day simple moving average of $127.18. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The company has a market cap of $6.33 billion, a PE ratio of 13.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $4.14 earnings per share. The firm’s revenue was down 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARW. Wells Fargo & Company boosted their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Truist Financial decreased their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Raymond James cut their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Arrow Electronics presently has an average rating of “Hold” and an average target price of $124.25.

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.