60,000 Shares in Arrow Electronics, Inc. (NYSE:ARW) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Arrow Electronics, Inc. (NYSE:ARW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 60,000 shares of the technology company’s stock, valued at approximately $7,246,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of Arrow Electronics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Arrow Electronics by 13.4% in 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. Greenhaven Associates Inc. grew its holdings in Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares during the period. Cooke & Bieler LP grew its holdings in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares during the period. Earnest Partners LLC grew its holdings in Arrow Electronics by 2.4% during the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after purchasing an additional 33,051 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Arrow Electronics by 9,044.0% in the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after acquiring an additional 1,204,837 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Up 1.2 %

Shares of ARW stock opened at $130.92 on Friday. The company has a market cap of $6.97 billion, a PE ratio of 10.29 and a beta of 1.26. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The stock’s 50 day simple moving average is $129.23 and its two-hundred day simple moving average is $127.23. 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 posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) 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 analyst estimates of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period last year, the company earned $4.37 EPS. Research analysts predict that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James upped their price objective on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One investment 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. Based on data from MarketBeat.com, Arrow Electronics currently has a consensus rating of “Hold” and an average price target of $130.75.

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.