Franklin Resources Inc. Has $5.56 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Franklin Resources Inc. lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 1,072.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,265 shares of the technology company’s stock after purchasing an additional 37,746 shares during the quarter. Franklin Resources Inc. owned 0.08% of Arrow Electronics worth $5,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after buying an additional 1,204,837 shares in the last quarter. FMR LLC grew its stake in Arrow Electronics by 371.1% during the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company’s stock valued at $57,768,000 after acquiring an additional 342,590 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after purchasing an additional 102,854 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Arrow Electronics by 3,768.6% during the third quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company’s stock worth $11,063,000 after purchasing an additional 81,137 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ARW. Raymond James decreased 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 reduced their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st.

Arrow Electronics Stock Performance

Shares of NYSE:ARW opened at $114.94 on Tuesday. 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 business’s fifty day moving average price is $122.57 and its two-hundred day moving average price is $125.74. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 12.83 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the business earned $4.14 EPS. Arrow Electronics’s revenue was down 14.8% compared to the same quarter last year. As a group, analysts predict that Arrow Electronics, Inc. will post 10.23 EPS 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.