AE Wealth Management LLC Has $252,000 Stake in Arrow Electronics, Inc. (NYSE:ARW)

AE Wealth Management LLC increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8.3% during the second quarter, HoldingsChannel reports. The fund owned 2,084 shares of the technology company’s stock after buying an additional 160 shares during the period. AE Wealth Management LLC’s holdings in Arrow Electronics were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARW. Rise Advisors LLC acquired a new stake in shares of Arrow Electronics during the first quarter worth $32,000. Versant Capital Management Inc raised its holdings in shares of Arrow Electronics by 794.6% during the second 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 period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Arrow Electronics by 76.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after acquiring an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Arrow Electronics in the first quarter valued at $81,000. Finally, Covestor Ltd grew its position in Arrow Electronics by 16.9% in the first quarter. Covestor Ltd now owns 1,026 shares of the technology company’s stock valued at $133,000 after purchasing an additional 148 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARW has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Raymond James raised their target price 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. Finally, Wells Fargo & Company raised their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $130.75.

Arrow Electronics Stock Performance

Shares of ARW opened at $133.87 on Friday. The firm has a 50-day moving average of $128.32 and a 200-day moving average of $126.89. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $136.93. The company has a market cap of $7.13 billion, a PE ratio of 10.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The company had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.37 EPS. As a group, equities analysts forecast 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.