Pallas Capital Advisors LLC Invests $267,000 in Arrow Electronics, Inc. (NYSE:ARW)

Pallas Capital Advisors LLC bought a new stake in Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,994 shares of the technology company’s stock, valued at approximately $267,000.

A number of other institutional investors have also bought and sold shares of ARW. Versant Capital Management Inc lifted its stake 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 valued at $40,000 after purchasing an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics during the 3rd quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth approximately $88,000. Finally, GAMMA Investing LLC increased its stake 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 valued at $92,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Up 2.0 %

Shares of NYSE ARW opened at $121.08 on Friday. 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 company has a 50-day moving average price of $131.57 and a 200-day moving average price of $128.16. The stock has a market capitalization of $6.41 billion, a P/E ratio of 11.41 and a beta of 1.26. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company posted $4.14 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on ARW shares. Raymond James cut their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company raised their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $124.25.

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.