Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,469 shares of the technology company’s stock after acquiring an additional 7,910 shares during the period. Envestnet Asset Management Inc. owned 0.26% of Arrow Electronics worth $16,963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ARW. Norges Bank acquired a new stake in Arrow Electronics in the fourth quarter valued at $79,027,000. Assetmark Inc. raised its holdings in Arrow Electronics by 1.9% in the fourth quarter. Assetmark Inc. now owns 12,265 shares of the technology company’s stock valued at $1,499,000 after acquiring an additional 224 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in Arrow Electronics by 17.1% in the fourth quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock valued at $115,000 after acquiring an additional 137 shares in the last quarter. Innealta Capital LLC bought a new stake in Arrow Electronics during the fourth quarter valued at $229,000. Finally, Olympiad Research LP bought a new stake in Arrow Electronics during the fourth quarter valued at $467,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on ARW shares. Wells Fargo & Company boosted their target price 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. 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 boosted their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Raymond James boosted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Stock Up 0.3 %

Arrow Electronics stock opened at $132.09 on Tuesday. The company has a 50-day simple moving average of $127.66 and a 200-day simple moving average of $126.62. The firm has a market capitalization of $7.03 billion, a P/E ratio of 10.38 and a beta of 1.27. 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, Inc. has a one year low of $108.51 and a one year high of $136.93.

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