Bank of Montreal Can Sells 667 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Bank of Montreal Can cut its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,138 shares of the technology company’s stock after selling 667 shares during the quarter. Bank of Montreal Can owned about 0.14% of Arrow Electronics worth $10,062,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in shares of Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after purchasing an additional 876,396 shares during the last quarter. SG Americas Securities LLC bought a new position in Arrow Electronics during the second quarter worth about $938,000. Edgestream Partners L.P. acquired a new position in shares of Arrow Electronics during the 2nd quarter worth about $1,267,000. Texas Permanent School Fund Corp increased its stake in shares of 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 acquiring an additional 15,926 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Arrow Electronics by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock valued at $68,469,000 after acquiring an additional 30,786 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $120.16 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The company’s 50 day moving average price is $126.73 and its two-hundred day moving average price is $127.08. The company has a market capitalization of $6.32 billion, a P/E ratio of 13.41 and a beta of 1.27.

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. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period last year, the business posted $4.14 earnings per share. On average, analysts expect that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARW has been the subject of a number of analyst reports. Raymond James decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial lowered their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.