JPMorgan Chase & Co. Boosts Position in Arrow Electronics, Inc. (NYSE:ARW)

JPMorgan Chase & Co. increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 115.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 315,800 shares of the technology company’s stock after acquiring an additional 168,904 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arrow Electronics were worth $41,948,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after buying an additional 325,122 shares during the last quarter. Pacer Advisors Inc. grew its position in Arrow Electronics by 71.9% in the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after acquiring an additional 876,396 shares during the period. State Street Corp increased its stake in Arrow Electronics by 0.3% during the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after acquiring an additional 4,811 shares during the last quarter. Earnest Partners LLC raised its position in Arrow Electronics by 2.4% in 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, Sei Investments Co. lifted its stake in shares of Arrow Electronics by 10.0% in the 2nd quarter. Sei Investments Co. now owns 699,806 shares of the technology company’s stock valued at $84,506,000 after purchasing an additional 63,506 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARW has been the subject of several research analyst reports. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James lowered their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

Arrow Electronics Price Performance

ARW opened at $113.14 on Monday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 12.63 and a beta of 1.26. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $118.85 and its 200 day moving average price is $124.69. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm’s revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.14 EPS. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

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.