Victory Capital Management Inc. Grows Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Victory Capital Management Inc. increased its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,477 shares of the technology company’s stock after purchasing an additional 517 shares during the quarter. Victory Capital Management Inc.’s holdings in Arrow Electronics were worth $2,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Arrow Electronics in the 2nd quarter worth about $938,000. Tidal Investments LLC raised its stake in Arrow Electronics by 124.1% in the 1st quarter. Tidal Investments LLC now owns 12,644 shares of the technology company’s stock valued at $1,637,000 after purchasing an additional 7,002 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Arrow Electronics in the 2nd quarter valued at about $1,267,000. Texas Permanent School Fund Corp raised its stake in Arrow Electronics by 33.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock valued at $7,610,000 after purchasing an additional 15,926 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Arrow Electronics by 657.5% in the 1st quarter. Janus Henderson Group PLC now owns 222,888 shares of the technology company’s stock valued at $28,854,000 after purchasing an additional 193,462 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARW. Raymond James cut their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Arrow Electronics presently has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics Trading Up 2.0 %

NYSE ARW opened at $119.26 on Friday. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The company has a 50-day moving average of $127.74 and a 200-day moving average of $127.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The company has a market cap of $6.27 billion, a P/E ratio of 13.31 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 EPS. As a group, equities analysts predict that Arrow Electronics, Inc. will post 10.29 earnings per share for the current year.

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.