UMB Bank n.a. Purchases 3,201 Shares of Arrow Electronics, Inc. (NYSE:ARW)

UMB Bank n.a. raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8,207.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,240 shares of the technology company’s stock after purchasing an additional 3,201 shares during the period. UMB Bank n.a.’s holdings in Arrow Electronics were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of Arrow Electronics in the 1st quarter worth $682,000. State Board of Administration of Florida Retirement System raised its position in shares of Arrow Electronics by 20.5% in the 1st 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 in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Arrow Electronics by 128.9% in the 1st 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 in the last quarter. Russell Investments Group Ltd. raised its position 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 worth $12,456,000 after acquiring an additional 6,157 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Arrow Electronics by 368.7% in the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company’s stock worth $3,548,000 after acquiring an additional 21,563 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Stock Up 0.8 %

Arrow Electronics stock opened at $133.57 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The business’s 50-day simple moving average is $129.99 and its two-hundred day simple moving average is $127.64. The company has a market cap of $7.07 billion, a PE ratio of 12.59 and a beta of 1.26. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $136.93.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. The company’s revenue was down 19.0% compared to the same quarter last year. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Truist Financial upped 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. Finally, Raymond James upped their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” 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 assigned a buy rating to the company. According to data from MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus price target 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.