Oppenheimer Asset Management Inc. Has $568,000 Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Oppenheimer Asset Management Inc. increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 21.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,706 shares of the technology company’s stock after buying an additional 825 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arrow Electronics were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Arrow Electronics during the 1st quarter worth about $32,000. Versant Capital Management Inc increased its position in Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after buying an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in 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 valued at $45,000 after buying an additional 150 shares during the period. Principal Securities Inc. bought a new stake in Arrow Electronics in the fourth quarter valued at approximately $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics in the first quarter valued at approximately $81,000. 99.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial increased their price target on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of 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 upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Raymond James raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $130.75.

Arrow Electronics Stock Down 1.6 %

ARW opened at $131.76 on Friday. The stock has a fifty day moving average of $127.46 and a 200-day moving average of $126.45. The company has a market capitalization of $7.01 billion, a P/E ratio of 10.36 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 $136.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the company earned $4.37 EPS. The business’s revenue was down 19.0% on a year-over-year basis. On average, equities analysts expect that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Arrow Electronics Company 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.