Vanguard Personalized Indexing Management LLC Purchases 1,098 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Vanguard Personalized Indexing Management LLC raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,698 shares of the technology company’s stock after purchasing an additional 1,098 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Arrow Electronics were worth $1,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Arrow Electronics during the 4th quarter worth $79,027,000. Intech Investment Management LLC bought a new position in Arrow Electronics in the first quarter valued at about $682,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Arrow Electronics by 20.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock worth $7,404,000 after acquiring an additional 10,083 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Arrow Electronics by 128.9% in the first quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock worth $4,570,000 after acquiring an additional 19,880 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Arrow Electronics by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company’s stock valued at $12,456,000 after purchasing an additional 6,157 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Trading Down 1.7 %

Shares of NYSE ARW opened at $131.64 on Friday. The stock has a market cap of $7.01 billion, a P/E ratio of 10.35 and a beta of 1.27. The firm has a 50 day moving average price of $127.46 and a two-hundred day moving average price of $126.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $136.93.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping 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%. Arrow Electronics’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period last year, the company earned $4.37 EPS. As a group, equities analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Raymond James upped their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped 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. The Goldman Sachs Group raised their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Truist Financial increased their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One 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 has a consensus rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Company 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.