NorthCrest Asset Manangement LLC Has $759,000 Stake in Arrow Electronics, Inc. (NYSE:ARW)

NorthCrest Asset Manangement LLC lifted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,714 shares of the technology company’s stock after purchasing an additional 565 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Arrow Electronics were worth $759,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ARW. Mirae Asset Global Investments Co. Ltd. bought a new position in Arrow Electronics in the third quarter valued at approximately $88,000. Tectonic Advisors LLC raised its holdings in shares of Arrow Electronics by 6.0% during the third quarter. Tectonic Advisors LLC now owns 3,513 shares of the technology company’s stock worth $467,000 after acquiring an additional 200 shares during the period. Dakota Wealth Management lifted its position in Arrow Electronics by 15.7% in the 3rd quarter. Dakota Wealth Management now owns 17,671 shares of the technology company’s stock valued at $2,347,000 after acquiring an additional 2,398 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in Arrow Electronics in the 3rd quarter worth $205,000. Finally, Riverwater Partners LLC raised its stake in shares of Arrow Electronics by 18.2% in the 3rd quarter. Riverwater Partners LLC now owns 2,135 shares of the technology company’s stock valued at $280,000 after purchasing an additional 329 shares during the period. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in 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 research report on Friday, August 2nd. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Raymond James lifted their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Stock Performance

ARW opened at $132.39 on Monday. 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 $131.56 and its 200 day simple moving average is $128.06. The firm has a market capitalization of $7.05 billion, a PE ratio of 10.41 and a beta of 1.26. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.16 by $0.62. The company had revenue of $6.89 billion during 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 firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Arrow Electronics 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.