9,030 Shares in Arrow Electronics, Inc. (NYSE:ARW) Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,030 shares of the technology company’s stock, valued at approximately $1,090,000.

Several other institutional investors have also modified their holdings of the stock. Private Advisor Group LLC acquired a new stake in Arrow Electronics in the 4th quarter worth about $204,000. Principal Securities Inc. acquired a new stake in shares of Arrow Electronics in the fourth quarter worth approximately $56,000. Brown Advisory Inc. increased its position in shares of Arrow Electronics by 6.6% during the fourth quarter. Brown Advisory Inc. now owns 18,891 shares of the technology company’s stock worth $2,309,000 after purchasing an additional 1,166 shares in the last quarter. Norges Bank acquired a new position in Arrow Electronics in the 4th quarter valued at $79,027,000. Finally, CreativeOne Wealth LLC lifted its holdings in Arrow Electronics by 52.4% in the 4th quarter. CreativeOne Wealth LLC now owns 3,094 shares of the technology company’s stock valued at $378,000 after purchasing an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Down 1.6 %

Shares of ARW opened at $131.76 on Friday. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $136.93. The firm has a market capitalization of $7.01 billion, a P/E ratio of 10.36 and a beta of 1.27. The firm has a 50-day moving average price of $127.46 and a 200 day moving average price of $126.45. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share 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 analysts’ expectations of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.37 EPS. Sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of several recent research reports. Wells Fargo & Company upped their target price 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. The Goldman Sachs Group upped their price objective on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Raymond James increased their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.