Cornercap Investment Counsel Inc. Takes $275,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Cornercap Investment Counsel Inc. bought a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,072 shares of the technology company’s stock, valued at approximately $275,000.

Several other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. grew its position in Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after acquiring an additional 32,052 shares during the last quarter. Cooke & Bieler LP grew its position in Arrow Electronics by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after acquiring an additional 56,781 shares during the last quarter. Earnest Partners LLC grew its position in Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after acquiring an additional 33,051 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Arrow Electronics by 9,044.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after acquiring an additional 1,204,837 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Down 0.0 %

Shares of NYSE:ARW opened at $115.18 on Monday. The business’s 50-day moving average is $128.61 and its 200 day moving average is $127.70. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The firm has a market capitalization of $6.06 billion, a P/E ratio of 12.85 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 (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.14 earnings per share. On average, research analysts predict that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ARW shares. Wells Fargo & Company upped their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Raymond James lowered 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. Finally, Truist Financial lowered their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. One 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Company 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.