Skandinaviska Enskilda Banken AB publ Grows Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 80.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,226 shares of the technology company’s stock after buying an additional 7,256 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Arrow Electronics were worth $1,959,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ARW. Rise Advisors LLC bought a new position in Arrow Electronics in the 1st quarter worth $32,000. Versant Capital Management Inc lifted its position in shares of Arrow Electronics by 794.6% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after acquiring an additional 150 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics in the 1st quarter worth approximately $81,000. Finally, Johnson Financial Group Inc. raised its stake in Arrow Electronics by 17.1% during the 4th quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock worth $115,000 after acquiring an additional 137 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARW. Truist Financial upped their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Raymond James boosted their price objective on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their target price on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Up 0.3 %

ARW opened at $132.09 on Tuesday. The company has a market capitalization of $7.03 billion, a PE ratio of 10.38 and a beta of 1.27. The firm has a 50-day simple moving average of $127.66 and a two-hundred day simple moving average of $126.62. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $136.93.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share 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 analysts’ expectations 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 for the quarter was down 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.37 EPS. Analysts forecast that Arrow Electronics, Inc. will post 10.74 earnings per share 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.