Cerity Partners LLC Boosts Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Cerity Partners LLC lifted its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 140.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,034 shares of the technology company’s stock after purchasing an additional 7,028 shares during the period. Cerity Partners LLC’s holdings in Arrow Electronics were worth $1,598,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of 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 period. Pacer Advisors Inc. grew its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after purchasing an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in Arrow Electronics by 1.7% during the 2nd 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 during the period. Cooke & Bieler LP raised its position 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. Finally, Earnest Partners LLC boosted its stake in shares of Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after buying an additional 33,051 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on ARW shares. Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.25.

Arrow Electronics Price Performance

ARW stock opened at $122.60 on Tuesday. The business has a 50 day moving average price of $126.54 and a 200 day moving average price of $127.03. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 13.68 and a beta of 1.27. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Equities research 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.