Pacer Advisors Inc. Raises Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Pacer Advisors Inc. raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 9,044.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,218,159 shares of the technology company’s stock after purchasing an additional 1,204,837 shares during the quarter. Pacer Advisors Inc. owned 2.29% of Arrow Electronics worth $147,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ARW. Dimensional Fund Advisors LP lifted 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 during the period. Greenhaven Associates Inc. increased its position in shares of Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after purchasing an additional 32,052 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Arrow Electronics by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Arrow Electronics by 7.4% in 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 in the last quarter. Finally, Lyrical Asset Management LP grew its stake in Arrow Electronics by 0.4% during the 4th quarter. Lyrical Asset Management LP now owns 1,095,749 shares of the technology company’s stock valued at $133,955,000 after acquiring an additional 4,273 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial boosted their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Wells Fargo & Company raised their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Raymond James lifted their price target on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $130.75.

Arrow Electronics Stock Performance

NYSE:ARW opened at $131.76 on Friday. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 10.36 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $136.93. The company has a fifty day simple moving average of $127.46 and a two-hundred day simple moving average of $126.45.

Arrow Electronics (NYSE:ARW) last posted its quarterly 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 quarter last year, the company earned $4.37 EPS. Arrow Electronics’s revenue for the quarter was down 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share 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.