Quarry LP Makes New $107,000 Investment in Arrow Electronics, Inc. (NYSE:ARW)

Quarry LP bought a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 882 shares of the technology company’s stock, valued at approximately $107,000.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Arrow Electronics by 9,044.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. Boston Partners grew its holdings in shares of Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock valued at $129,622,000 after acquiring an additional 521,117 shares in the last quarter. Lind Value II ApS purchased a new stake in shares of Arrow Electronics during the first quarter valued at approximately $66,949,000. Dimensional Fund Advisors LP lifted its holdings in Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after acquiring an additional 325,122 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Arrow Electronics by 56.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 851,790 shares of the technology company’s stock worth $104,131,000 after purchasing an additional 306,371 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Stock Down 0.8 %

ARW stock opened at $131.79 on Wednesday. The stock has a fifty day moving average of $128.47 and a 200-day moving average of $127.02. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $136.93. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 10.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share 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 firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter last year, the business earned $4.37 earnings per share. The company’s quarterly revenue was down 19.0% on a year-over-year basis. As a group, equities research analysts predict that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARW shares. Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Raymond James increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $130.75.

About Arrow Electronics

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.