Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 566,984 shares of the technology company’s stock after acquiring an additional 30,786 shares during the quarter. Bank of New York Mellon Corp owned 1.07% of Arrow Electronics worth $68,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARW. Rise Advisors LLC acquired a new stake in shares of Arrow Electronics in the first quarter worth $32,000. Versant Capital Management Inc boosted its holdings in 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 buying an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 buying an additional 150 shares in the last quarter. Principal Securities Inc. purchased a new stake in Arrow Electronics during the fourth quarter worth $56,000. Finally, GAMMA Investing LLC purchased a new stake in Arrow Electronics during the fourth quarter worth $58,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

ARW has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target 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. Raymond James increased their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial increased their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $130.75.

Arrow Electronics Stock Performance

ARW opened at $135.12 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 10.62 and a beta of 1.27. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $136.93. The firm’s fifty day simple moving average is $125.01 and its two-hundred day simple moving average is $124.98.

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 for 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 revenue was down 19.0% compared to the same quarter last year. During the same period last year, the firm posted $4.37 earnings per share. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.34 earnings per share for the current fiscal 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.