Arrow Electronics, Inc. (NYSE:ARW) Stock Position Raised by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 71.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,094,555 shares of the technology company’s stock after purchasing an additional 876,396 shares during the period. Pacer Advisors Inc.’s holdings in Arrow Electronics were worth $278,220,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ARW. Fifth Third Bancorp grew its stake in shares of Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after acquiring an additional 82 shares during the last quarter. Two Point Capital Management Inc. grew its holdings in shares of 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. SummerHaven Investment Management LLC grew its holdings in Arrow Electronics by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after acquiring an additional 117 shares during the last quarter. Meixler Investment Management Ltd. increased its stake in shares of Arrow Electronics by 7.7% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock valued at $207,000 after buying an additional 122 shares during the period. Finally, Creative Planning grew its position in shares of Arrow Electronics by 1.1% during the 3rd quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after buying an additional 123 shares during the period. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ARW shares. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. 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 report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Stock Performance

Shares of ARW opened at $114.15 on Thursday. The stock has a 50-day moving average of $127.96 and a 200-day moving average of $127.48. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The company has a market cap of $6.00 billion, a PE ratio of 12.74 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping 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 business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the company posted $4.14 earnings per share. Arrow Electronics’s quarterly revenue was down 14.8% compared to the same quarter last year. On average, equities research analysts predict that Arrow Electronics, Inc. will post 10.29 EPS for the current fiscal year.

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.