Inspire Investing LLC Acquires 130 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Inspire Investing LLC raised its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,307 shares of the technology company’s stock after acquiring an additional 130 shares during the period. Inspire Investing LLC’s holdings in Arrow Electronics were worth $399,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in Arrow Electronics in the first quarter worth $32,000. Versant Capital Management Inc lifted its holdings in shares of Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares during the period. Principal Securities Inc. bought a new stake in Arrow Electronics during the 4th quarter worth approximately $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics during the 1st quarter worth approximately $81,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARW. Truist Financial increased their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Raymond James lifted their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Trading Down 1.6 %

Shares of NYSE:ARW opened at $131.76 on Friday. The company’s 50-day moving average price is $127.46 and its two-hundred day moving average price is $126.45. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $136.93. 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 stock has a market capitalization of $7.01 billion, a PE ratio of 10.36 and a beta of 1.27.

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