Victory Capital Management Inc. Increases Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Victory Capital Management Inc. lifted its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,477 shares of the technology company’s stock after acquiring an additional 517 shares during the period. Victory Capital Management Inc.’s holdings in Arrow Electronics were worth $2,720,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc grew 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 worth $40,000 after acquiring an additional 294 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics during the third quarter worth approximately $73,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics during the third quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the third quarter worth $88,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Arrow Electronics by 24.6% during the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ARW shares. Raymond James decreased their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $119.26 on Friday. The firm has a market capitalization of $6.27 billion, a P/E ratio of 13.31 and a beta of 1.27. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company’s fifty day moving average is $127.74 and its two-hundred day moving average is $127.35. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.14 EPS. Analysts forecast that Arrow Electronics, Inc. will post 10.29 EPS for the current fiscal 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.