Blue Trust Inc. Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Blue Trust Inc. lifted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 27.0% during the third quarter, Holdings Channel reports. The institutional investor owned 4,036 shares of the technology company’s stock after purchasing an additional 858 shares during the period. Blue Trust Inc.’s holdings in Arrow Electronics were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 325,122 shares during the period. Greenhaven Associates Inc. lifted its holdings 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 worth $227,377,000 after purchasing an additional 32,052 shares in the last quarter. Cooke & Bieler LP boosted its stake in Arrow Electronics by 3.1% in the 2nd 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 grew its holdings in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after buying an additional 33,051 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Arrow Electronics by 9,044.0% during the second 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 during the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE:ARW opened at $133.51 on Wednesday. The firm has a market capitalization of $7.11 billion, a PE ratio of 10.50 and a beta of 1.26. The stock’s fifty day moving average is $131.30 and its 200 day moving average is $127.95. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.39. 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 released its quarterly 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 net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the company earned $4.37 EPS. The firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Analysts Set New Price Targets

ARW has been the subject of several research analyst reports. Raymond James raised their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial lifted 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. Finally, Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Arrow Electronics has a consensus rating of “Hold” and an average 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.