Kendall Capital Management Has $2.81 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Kendall Capital Management grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,260 shares of the technology company’s stock after buying an additional 200 shares during the quarter. Arrow Electronics accounts for about 0.9% of Kendall Capital Management’s holdings, making the stock its 26th biggest position. Kendall Capital Management’s holdings in Arrow Electronics were worth $2,809,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Arrow Electronics during the first quarter valued at about $32,000. Versant Capital Management Inc grew its holdings in shares of Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after buying an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Arrow Electronics by 76.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Arrow Electronics during the fourth quarter valued at about $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics during the first quarter valued at about $81,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Down 0.0 %

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

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Raymond James boosted their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.