Sei Investments Co. Purchases 63,506 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Sei Investments Co. boosted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 699,806 shares of the technology company’s stock after purchasing an additional 63,506 shares during the period. Sei Investments Co. owned about 1.31% of Arrow Electronics worth $84,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after buying an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. grew its position in Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after acquiring an additional 32,052 shares during the last quarter. Cooke & Bieler LP increased its stake in Arrow Electronics by 3.1% in the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after purchasing an additional 56,781 shares during the period. Earnest Partners LLC boosted its stake in shares of Arrow Electronics by 7.4% during the first quarter. Earnest Partners LLC now owns 1,374,525 shares of the technology company’s stock valued at $177,946,000 after purchasing an additional 95,285 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after buying an additional 1,204,837 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $131.64 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 10.35 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 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’s 50 day moving average is $127.46 and its 200 day moving average is $126.50.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.77% and a net margin of 1.97%. The business’s revenue was down 19.0% compared to the same quarter last year. During the same period last year, the business posted $4.37 EPS. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ARW shares. 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 research note on Friday, August 2nd. Truist Financial raised their price objective on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Raymond James upped their target price on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $130.75.

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.