Arrow Electronics, Inc. (NYSE:ARW) Shares Acquired by Brandes Investment Partners LP

Brandes Investment Partners LP increased its position in Arrow Electronics, Inc. (NYSE:ARW) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,982 shares of the technology company’s stock after purchasing an additional 945 shares during the period. Brandes Investment Partners LP’s holdings in Arrow Electronics were worth $2,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARW. Intech Investment Management LLC bought a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $682,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Arrow Electronics by 20.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock worth $7,404,000 after purchasing an additional 10,083 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Arrow Electronics by 128.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock worth $4,570,000 after buying an additional 19,880 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Arrow Electronics by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company’s stock valued at $12,456,000 after buying an additional 6,157 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Arrow Electronics by 368.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company’s stock valued at $3,548,000 after buying an additional 21,563 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Price Performance

Shares of ARW opened at $132.73 on Tuesday. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $136.93. The stock’s fifty day moving average is $128.47 and its 200-day moving average is $127.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 10.43 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 EPS for the quarter, beating the consensus estimate of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. Arrow Electronics’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter last year, the company earned $4.37 EPS. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ARW shares. Raymond James upped their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $130.75.

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.