Charles Schwab Investment Management Inc. Has $64.28 Million Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Charles Schwab Investment Management Inc. raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,936 shares of the technology company’s stock after buying an additional 10,340 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.92% of Arrow Electronics worth $64,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its stake in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after acquiring an additional 294 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics during the 3rd quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics in the 3rd quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Arrow Electronics in the third quarter valued at $88,000. Finally, GAMMA Investing LLC increased its position in shares of Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ARW. Wells Fargo & Company upped their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Raymond James decreased their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial cut their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics Price Performance

ARW opened at $120.30 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The stock has a market capitalization of $6.33 billion, a P/E ratio of 13.43 and a beta of 1.27. The company’s 50 day simple moving average is $126.96 and its 200-day simple moving average is $127.18. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period last year, the firm earned $4.14 EPS. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 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.