Acadian Asset Management LLC Decreases Position in Arrow Electronics, Inc. (NYSE:ARW)

Acadian Asset Management LLC trimmed its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 93.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,422 shares of the technology company’s stock after selling 82,980 shares during the period. Acadian Asset Management LLC’s holdings in Arrow Electronics were worth $653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Arrow Electronics in the 4th quarter valued at about $79,027,000. Intech Investment Management LLC bought a new stake in Arrow Electronics in the first quarter valued at approximately $682,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Arrow Electronics by 20.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock valued at $7,404,000 after purchasing an additional 10,083 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Arrow Electronics by 128.9% during the first quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock valued at $4,570,000 after purchasing an additional 19,880 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Arrow Electronics by 6.8% in the first quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company’s stock worth $12,456,000 after purchasing an additional 6,157 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARW. Raymond James increased their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the company 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 issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Arrow Electronics currently has a consensus rating of “Hold” and an average target price of $130.75.

Arrow Electronics Stock Up 1.7 %

Shares of NYSE ARW opened at $129.69 on Wednesday. The firm has a fifty day simple moving average of $126.62 and a two-hundred day simple moving average of $126.23. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $136.93. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $6.90 billion, a PE ratio of 10.19 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. Arrow Electronics’s revenue was down 19.0% on a year-over-year basis. Equities analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share 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.