California Public Employees Retirement System Acquires 22,206 Shares of Arrow Electronics, Inc. (NYSE:ARW)
California Public Employees Retirement System increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating ) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,844 shares of the technology company’s stock after acquiring an additional 22,206 shares during the quarter. California Public Employees Retirement System owned approximately 0.47% of Arrow Electronics worth $26,905,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ARW. First Horizon Advisors Inc. boosted its holdings in shares of Arrow Electronics by 830.3% in the second quarter. First Horizon Advisors Inc. now owns 307 shares of the technology company’s stock valued at $34,000 after buying an additional 274 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Arrow Electronics in the first quarter worth about $52,000. CWM LLC boosted its holdings in shares of Arrow Electronics by 103.2% in the second quarter. CWM LLC now owns 640 shares of the technology company’s stock valued at $72,000 after buying an additional 325 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Arrow Electronics by 1,000.0% in the second quarter. EverSource Wealth Advisors LLC now owns 737 shares of the technology company’s stock valued at $83,000 after buying an additional 670 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Arrow Electronics by 55.6% in the first quarter. Covestor Ltd now owns 879 shares of the technology company’s stock valued at $104,000 after buying an additional 314 shares during the last quarter. 95.49% of the share is owned by institutional investors.
Arrow Electronics stock fell 1.3%
Shares of NYSE:ARW opened at $126.65 on Friday. Arrow Electronics, Inc. has a 1 year low of $89.38 and a 1 year high of $134.56. The business has a 50 day simple moving average of $112.34 and a two hundred day simple moving average of $107.47. The firm has a market cap of $7.79 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.48, and a quick ratio of 1.05.
Arrow Electronics (NYSE: ARW – Get Rating ) last released its earnings results on Thursday, February 2nd. The technology company reported $5.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.01. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.31 billion. During the same quarter in the prior year, the business earned $5.37 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Stock analysts predict, on average, that Arrow Electronics, Inc. 15.78 EPS for the current year will post.
In other news, SVP Vincent P. Melvin sold 6,000 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $112.03, for a total transaction of $672,180.00. Following the completion of the sale, the senior vice president now owns 19,381 shares of the company’s stock, valued at $2,171,253.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s shares.
Analyzer Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Arrow Electronics from $116.00 to $131.00 and gave the stock a “hold” rating in a report on Friday, February 3rd. Goldman Sachs Group lifted their price target on Arrow Electronics from $111.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Wells Fargo & Company lifted their price target on Arrow Electronics from $87.00 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Raymond James lifted their price objective on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Citigroup lifted their price objective on Arrow Electronics from $115.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.33.
Arrow Electronics Company Profile (Get Rating)
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment is involved in the marketing and distribution of electronic components and offers a range of value-added capabilities throughout the entire life cycle of technological products and services through design engineering, global marketing and integration, global logistics and supply chain management.
Want to see what other hedge funds hold ARW? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Arrow Electronics, Inc. (NYSE: ARW – Get Rating) to get.
This instant news alert was generated using narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial staff prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Arrow Electronics, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes off … and Arrow Electronics wasn’t on the list.
While Arrow Electronics currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Check out the five stocks here
Elon Musk’s next move
Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to find out when Elon Musk will finally let these companies IPO.
Get this free report