MQS Management LLC Purchases Shares of 2,694 Arrow Electronics, Inc. (NYSE:ARW)

MQS Management LLC acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,694 shares of the technology company’s stock, valued at approximately $325,000.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Arrow Electronics by 13.4% during 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 last quarter. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after buying an additional 32,052 shares during the period. Cooke & Bieler LP lifted its position in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after buying an additional 56,781 shares in the last quarter. Earnest Partners LLC grew its stake in Arrow Electronics by 7.4% during the first quarter. Earnest Partners LLC now owns 1,374,525 shares of the technology company’s stock worth $177,946,000 after buying an additional 95,285 shares during the period. Finally, Lyrical Asset Management LP increased its position in shares of Arrow Electronics by 0.4% in the fourth quarter. Lyrical Asset Management LP now owns 1,095,749 shares of the technology company’s stock worth $133,955,000 after acquiring an additional 4,273 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARW. Wells Fargo & Company increased 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. Raymond James increased their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Truist Financial increased their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Trading Down 1.6 %

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

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