Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 115.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 315,800 shares of the technology company’s stock after purchasing an additional 168,904 shares during the period. JPMorgan Chase & Co. owned about 0.60% of Arrow Electronics worth $41,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Arrow Electronics by 1,072.6% in the third quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock worth $5,564,000 after buying an additional 37,746 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Arrow Electronics by 2.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 46,664 shares of the technology company’s stock valued at $6,198,000 after purchasing an additional 1,251 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Arrow Electronics by 6.0% in the 3rd quarter. Synovus Financial Corp now owns 3,155 shares of the technology company’s stock valued at $419,000 after purchasing an additional 178 shares during the period. Tidal Investments LLC boosted its holdings in Arrow Electronics by 3.5% during the third quarter. Tidal Investments LLC now owns 7,223 shares of the technology company’s stock worth $959,000 after buying an additional 245 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Arrow Electronics in the third quarter valued at $621,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ARW shares. Raymond James dropped their target price 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. Truist Financial cut their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $113.14 on Monday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 12.63 and a beta of 1.26. The business has a 50 day simple moving average of $118.85 and a two-hundred day simple moving average of $124.69. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 EPS. As a group, analysts predict that Arrow Electronics, Inc. will post 10.23 EPS 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.