234 Shares in Arrow Electronics, Inc. (NYSE:ARW) Bought by True Wealth Design LLC

True Wealth Design LLC purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 234 shares of the technology company’s stock, valued at approximately $31,000.

Several other hedge funds have also recently added to or reduced their stakes in ARW. Pacer Advisors Inc. raised its holdings in shares of Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after buying an additional 1,204,837 shares in the last quarter. FMR LLC raised its position in Arrow Electronics by 371.1% in the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company’s stock worth $57,768,000 after purchasing an additional 342,590 shares during the period. Dimensional Fund Advisors LP lifted its stake in Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after purchasing an additional 325,122 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Arrow Electronics by 220.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after buying an additional 102,854 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Arrow Electronics by 3,768.6% during the third quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company’s stock valued at $11,063,000 after buying an additional 81,137 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Up 0.6 %

Shares of NYSE:ARW opened at $120.16 on Monday. The stock’s 50-day moving average is $126.73 and its 200 day moving average is $127.08. The company has a market cap of $6.32 billion, a PE ratio of 13.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $4.14 earnings per share. The business’s revenue was down 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARW shares. Raymond James dropped their target price 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 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $124.25.

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.