Arrow Electronics, Inc. (NYSE:ARW) Position Reduced by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,222 shares of the technology company’s stock after selling 636 shares during the period. Ameritas Investment Partners Inc.’s holdings in Arrow Electronics were worth $2,563,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in Arrow Electronics in the first quarter worth about $32,000. Versant Capital Management Inc grew its position in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after acquiring an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings 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 acquiring an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Arrow Electronics during the 4th quarter valued at approximately $56,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Arrow Electronics during the first quarter worth $81,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARW. The Goldman Sachs Group boosted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. 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 note on Friday, August 2nd. 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 note on Friday, August 2nd. Finally, Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One equities research 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Down 1.7 %

ARW stock opened at $131.64 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $127.46 and its 200 day simple moving average is $126.50. The stock has a market cap of $7.01 billion, a PE ratio of 10.35 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.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arrow Electronics, Inc. will post 10.74 EPS for the current 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.