Jane Street Group LLC Purchases 2,509 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Jane Street Group LLC boosted its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 27.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,497 shares of the technology company’s stock after acquiring an additional 2,509 shares during the quarter. Jane Street Group LLC’s holdings in Arrow Electronics were worth $1,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARW. True Wealth Design LLC purchased a new position in shares of Arrow Electronics during the 3rd quarter worth $31,000. Brooklyn Investment Group bought a new position in Arrow Electronics in the 3rd quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in Arrow Electronics during the third quarter valued at $73,000. DekaBank Deutsche Girozentrale bought a new stake in Arrow Electronics during the third quarter valued at about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arrow Electronics in the third quarter worth about $88,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

NYSE ARW opened at $115.03 on Friday. The company has a market cap of $6.05 billion, a P/E ratio of 12.84 and a beta of 1.26. The business’s 50 day moving average price is $121.78 and its 200-day moving average price is $125.56. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. 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 released its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the firm posted $4.14 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARW. Truist Financial decreased their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Raymond James decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

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.