Jane Street Group LLC Increases Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Jane Street Group LLC boosted its position in Arrow Electronics, Inc. (NYSE:ARW) by 27.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,497 shares of the technology company’s stock after purchasing an additional 2,509 shares during the period. Jane Street Group LLC’s holdings in Arrow Electronics were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARW. Bank of New York Mellon Corp grew its position in Arrow Electronics by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock worth $68,469,000 after purchasing an additional 30,786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arrow Electronics by 6.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,792 shares of the technology company’s stock valued at $1,303,000 after acquiring an additional 646 shares during the period. Crossmark Global Holdings Inc. boosted its position in Arrow Electronics by 20.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,664 shares of the technology company’s stock worth $563,000 after purchasing an additional 800 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Arrow Electronics during the 2nd quarter worth approximately $761,000. Finally, Empirical Finance LLC increased its holdings in shares of Arrow Electronics by 128.7% during the 2nd quarter. Empirical Finance LLC now owns 8,511 shares of the technology company’s stock valued at $1,028,000 after purchasing an additional 4,789 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

ARW has been the subject of a number of recent analyst reports. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st.

Arrow Electronics Trading Down 0.4 %

Shares of Arrow Electronics stock opened at $115.03 on Friday. 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 stock’s 50 day simple moving average is $121.78 and its 200-day simple moving average is $125.56. The stock has a market cap of $6.05 billion, a P/E ratio of 12.84 and a beta of 1.26. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the company posted $4.14 EPS. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. Analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

Arrow Electronics 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.