Edgestream Partners L.P. Makes New $1.27 Million Investment in Arrow Electronics, Inc. (NYSE:ARW)

Edgestream Partners L.P. bought a new position in Arrow Electronics, Inc. (NYSE:ARW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,489 shares of the technology company’s stock, valued at approximately $1,267,000.

A number of other institutional investors and hedge funds have also modified their holdings of ARW. Dimensional Fund Advisors LP grew its holdings in shares of Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after acquiring an additional 325,122 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Arrow Electronics by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 140,469 shares of the technology company’s stock worth $16,963,000 after acquiring an additional 7,910 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Arrow Electronics by 21.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,706 shares of the technology company’s stock worth $568,000 after acquiring an additional 825 shares during the period. Wambolt & Associates LLC grew its holdings in shares of Arrow Electronics by 9.7% in the second quarter. Wambolt & Associates LLC now owns 8,644 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 765 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Arrow Electronics by 69.6% in the second quarter. American Century Companies Inc. now owns 55,962 shares of the technology company’s stock worth $6,758,000 after acquiring an additional 22,966 shares during the period. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ARW. Truist Financial lifted their price objective on 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 Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Wells Fargo & Company boosted their price target on 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 assigned a buy rating to the stock. According to MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Price Performance

NYSE:ARW opened at $131.76 on Friday. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 10.36 and a beta of 1.27. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The business has a 50 day simple moving average of $127.46 and a 200-day simple moving average of $126.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the business posted $4.37 earnings per share. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. Equities analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

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.