US Bancorp DE Raises Position in Arrow Electronics, Inc. (NYSE:ARW)

US Bancorp DE lifted its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,407 shares of the technology company’s stock after purchasing an additional 558 shares during the period. US Bancorp DE owned 0.05% of Arrow Electronics worth $3,640,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after buying an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Arrow Electronics in the 3rd quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Arrow Electronics in the 3rd quarter valued at $88,000. Finally, GAMMA Investing LLC boosted its holdings in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the subject of several analyst reports. Truist Financial cut their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday. Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday. Finally, 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 report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $119.13 on Tuesday. The company’s fifty day moving average is $131.33 and its 200 day moving average is $128.22. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The stock has a market cap of $6.31 billion, a PE ratio of 13.30 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the company earned $4.14 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. Research analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current 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.