Fmr LLC Has $57.77 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Fmr LLC increased its stake in Arrow Electronics, Inc. (NYSE:ARW) by 371.1% during the third quarter, Holdings Channel.com reports. The fund owned 434,905 shares of the technology company’s stock after buying an additional 342,590 shares during the period. Fmr LLC’s holdings in Arrow Electronics were worth $57,768,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in Arrow Electronics by 0.3% during the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after purchasing an additional 82 shares during the last quarter. Two Point Capital Management Inc. raised its stake in Arrow Electronics by 0.4% during the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after buying an additional 95 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after buying an additional 108 shares during the period. SummerHaven Investment Management LLC boosted its position in Arrow Electronics by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after acquiring an additional 117 shares during the last quarter. Finally, Meixler Investment Management Ltd. grew its holdings in Arrow Electronics by 7.7% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock worth $207,000 after acquiring an additional 122 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

Shares of ARW opened at $120.49 on Friday. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company has a market cap of $6.34 billion, a PE ratio of 13.45 and a beta of 1.26. The stock has a 50-day moving average of $125.54 and a 200-day moving average of $126.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the firm posted $4.14 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. On average, equities research analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial cut their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.