Allspring Global Investments Holdings LLC Boosts Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Allspring Global Investments Holdings LLC raised its position in Arrow Electronics, Inc. (NYSE:ARW) by 60.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,313 shares of the technology company’s stock after acquiring an additional 2,748 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arrow Electronics were worth $971,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. 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. lifted its holdings in shares of Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after buying an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arrow Electronics during the 1st quarter worth approximately $81,000. GAMMA Investing LLC raised its position in Arrow Electronics by 24.6% during the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares during the period. Finally, Quarry LP purchased a new position in shares of Arrow Electronics during the 2nd quarter worth about $107,000. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ARW shares. Raymond James upped their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, Truist Financial upped their price target on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research 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 issued a buy rating to the company. Based on data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Down 12.6 %

ARW opened at $118.67 on Friday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 11.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The business has a 50-day moving average of $131.81 and a two-hundred day moving average of $128.23. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate 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 was down 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.37 EPS. On average, research analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

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.