Bank of Montreal Can Has $10.06 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)

Bank of Montreal Can reduced its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,138 shares of the technology company’s stock after selling 667 shares during the period. Bank of Montreal Can’s holdings in Arrow Electronics were worth $10,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Arrow Electronics by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company’s stock worth $3,795,000 after acquiring an additional 1,381 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Arrow Electronics during the 1st quarter worth approximately $235,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $81,000. Versant Capital Management Inc boosted its holdings in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after buying an additional 294 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Arrow Electronics by 251.1% in the second quarter. Harbor Capital Advisors Inc. now owns 29,413 shares of the technology company’s stock valued at $3,552,000 after buying an additional 21,036 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARW has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James cut their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One 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 company’s stock. According to data from MarketBeat, Arrow Electronics currently has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Trading Up 0.6 %

Shares of Arrow Electronics stock opened at $120.16 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The business has a fifty day simple moving average of $126.73 and a two-hundred day simple moving average of $127.08. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 13.41 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the company posted $4.14 EPS. Arrow Electronics’s quarterly revenue was down 14.8% compared to the same quarter last year. Research analysts forecast that Arrow Electronics, Inc. will post 10.23 EPS for the current 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.