Canada Pension Plan Investment Board Has $9.29 Million Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Canada Pension Plan Investment Board grew its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 12.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,884 shares of the technology company’s stock after purchasing an additional 8,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Arrow Electronics were worth $9,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in Arrow Electronics during the first quarter worth $32,000. Versant Capital Management Inc increased 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 during the last quarter. Whittier Trust Co. of Nevada Inc. increased 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 during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics during the first quarter worth $81,000. Finally, Johnson Financial Group Inc. increased its holdings in Arrow Electronics by 17.1% during the fourth quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock worth $115,000 after buying an additional 137 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Trading Up 0.4 %

Shares of Arrow Electronics stock opened at $132.62 on Wednesday. The firm has a 50-day moving average of $127.77 and a 200-day moving average of $126.71. The stock has a market cap of $7.06 billion, a PE ratio of 10.43 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 debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48.

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, beating analysts’ consensus estimates of $2.16 by $0.62. The company 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%. Arrow Electronics’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.37 earnings per share. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price 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. Raymond James lifted 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. Truist Financial lifted their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.