Sequoia Financial Advisors LLC Invests $317,000 in Arrow Electronics, Inc. (NYSE:ARW)

Sequoia Financial Advisors LLC purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,383 shares of the technology company’s stock, valued at approximately $317,000.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after buying an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. increased its position in shares of Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares during the period. Cooke & Bieler LP increased its position in shares of Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares during the period. Earnest Partners LLC increased its position in shares of Arrow Electronics by 2.4% during the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after purchasing an additional 33,051 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after purchasing an additional 1,204,837 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Truist Financial boosted their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Raymond James upped their price target 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 given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Performance

Arrow Electronics stock opened at $133.82 on Tuesday. 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 fifty day moving average price of $131.62 and a two-hundred day moving average price of $128.10. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.39. The firm has a market capitalization of $7.12 billion, a P/E ratio of 10.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data 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. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior 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, analysts anticipate that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Arrow Electronics Company 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.