Arrow Electronics, Inc. (NYSE:ARW) Stake Reduced by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC trimmed its stake in Arrow Electronics, Inc. (NYSE:ARW) by 59.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,769 shares of the technology company’s stock after selling 4,088 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Arrow Electronics were worth $334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ARW. Private Advisor Group LLC bought a new stake in Arrow Electronics in the 4th quarter valued at about $204,000. Principal Securities Inc. bought a new stake in shares of Arrow Electronics during the fourth quarter valued at approximately $56,000. Brown Advisory Inc. boosted its position in shares of Arrow Electronics by 6.6% during the fourth quarter. Brown Advisory Inc. now owns 18,891 shares of the technology company’s stock worth $2,309,000 after buying an additional 1,166 shares during the period. Norges Bank bought a new position in Arrow Electronics in the 4th quarter worth approximately $79,027,000. Finally, CreativeOne Wealth LLC increased its position in Arrow Electronics by 52.4% in the 4th quarter. CreativeOne Wealth LLC now owns 3,094 shares of the technology company’s stock valued at $378,000 after acquiring an additional 1,064 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $129.57 on Thursday. The firm has a 50-day moving average of $127.05 and a two-hundred day moving average of $126.32. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.19 and a beta of 1.27. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $136.93.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period last year, the firm posted $4.37 earnings per share. As a group, analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARW. Truist Financial boosted their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Raymond James raised their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and an average target price of $130.75.

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.