Summit Trail Advisors LLC Buys 896 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Summit Trail Advisors LLC raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 30.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,817 shares of the technology company’s stock after purchasing an additional 896 shares during the quarter. Summit Trail Advisors LLC’s holdings in Arrow Electronics were worth $461,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in Arrow Electronics during the first quarter valued at about $32,000. Versant Capital Management Inc increased its position in shares of Arrow Electronics by 794.6% during the second 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 during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 purchasing an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics in the first quarter valued at $81,000. Finally, Johnson Financial Group Inc. lifted its position in Arrow Electronics by 17.1% in the fourth quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock worth $115,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

NYSE ARW opened at $132.09 on Tuesday. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $136.93. The company has a 50 day moving average of $127.66 and a 200-day moving average of $126.62. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 10.38 and a beta of 1.27.

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

Analysts Set New Price Targets

ARW has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective 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. Raymond James raised their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $130.75.

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.