Arrow Electronics, Inc. (NYSE:ARW) Shares Acquired by Creative Planning

Creative Planning lifted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,189 shares of the technology company’s stock after purchasing an additional 123 shares during the period. Creative Planning’s holdings in Arrow Electronics were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARW. Fifth Third Bancorp lifted its holdings in Arrow Electronics by 0.3% during the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after buying an additional 82 shares during the last quarter. Two Point Capital Management Inc. lifted its stake in Arrow Electronics by 0.4% during the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 95 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Arrow Electronics by 1.7% in the first quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock valued at $806,000 after purchasing an additional 107 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Arrow Electronics by 2.4% in the first quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after purchasing an additional 108 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in Arrow Electronics by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARW. Truist Financial upped their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Raymond James upped their price objective 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. Finally, Wells Fargo & Company lifted 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $130.75.

Arrow Electronics Stock Up 0.6 %

ARW stock opened at $134.60 on Wednesday. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.39. 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 company has a market cap of $7.13 billion, a price-to-earnings ratio of 12.69 and a beta of 1.26. The company has a fifty day moving average price of $131.62 and a 200 day moving average price of $128.10.

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

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.