Impact Partnership Wealth LLC Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

Impact Partnership Wealth LLC bought a new position in Arrow Electronics, Inc. (NYSE:ARW) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,540 shares of the technology company’s stock, valued at approximately $205,000.

A number of other institutional investors have also added to or reduced their stakes in ARW. Versant Capital Management Inc boosted its holdings in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after purchasing an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics in the 1st quarter worth about $81,000. GAMMA Investing LLC boosted its holdings in shares of Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Arrow Electronics in the 2nd quarter worth about $107,000. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Trading Up 1.1 %

Shares of ARW stock opened at $133.81 on Friday. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The stock has a market capitalization of $7.12 billion, a PE ratio of 10.52 and a beta of 1.26. The business has a 50-day moving average of $131.50 and a 200 day moving average of $128.02.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARW. Truist Financial upped 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. Wells Fargo & Company upped their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Raymond James upped their price objective on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.