Van ECK Associates Corp Raises Position in Arrow Electronics, Inc. (NYSE:ARW)

Van ECK Associates Corp boosted its position in Arrow Electronics, Inc. (NYSE:ARW) by 40.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,576 shares of the technology company’s stock after purchasing an additional 8,450 shares during the period. Van ECK Associates Corp owned about 0.06% of Arrow Electronics worth $3,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ARW. Janney Montgomery Scott LLC boosted its position in Arrow Electronics by 52.4% during the first quarter. Janney Montgomery Scott LLC now owns 3,057 shares of the technology company’s stock worth $396,000 after purchasing an additional 1,051 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Arrow Electronics by 4.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,270 shares of the technology company’s stock valued at $553,000 after buying an additional 173 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Arrow Electronics by 128.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock valued at $4,570,000 after acquiring an additional 19,880 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Arrow Electronics during the first quarter worth $3,758,000. Finally, Sei Investments Co. boosted its holdings in shares of Arrow Electronics by 9.8% in the first quarter. Sei Investments Co. now owns 636,300 shares of the technology company’s stock worth $82,379,000 after acquiring an additional 56,926 shares during the period. 99.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARW. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial reduced 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 note on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Stock Down 1.0 %

ARW opened at $120.20 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 13.42 and a beta of 1.27. The firm has a 50-day simple moving average of $129.96 and a two-hundred day simple moving average of $128.10. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion for 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 firm’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.14 EPS. Analysts forecast that Arrow Electronics, Inc. will post 10.43 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.