Caisse DE Depot ET Placement DU Quebec Has $19.86 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Caisse DE Depot ET Placement DU Quebec grew its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 220.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,510 shares of the technology company’s stock after acquiring an additional 102,854 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Arrow Electronics were worth $19,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARW. Pacer Advisors Inc. boosted its holdings in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after purchasing an additional 876,396 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Arrow Electronics in the 2nd quarter valued at about $938,000. Edgestream Partners L.P. acquired a new stake in shares of Arrow Electronics in the second quarter valued at about $1,267,000. Texas Permanent School Fund Corp increased its position in shares of Arrow Electronics by 33.8% in the second quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock valued at $7,610,000 after acquiring an additional 15,926 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Arrow Electronics by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock valued at $68,469,000 after purchasing an additional 30,786 shares during the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Stock Performance

Shares of NYSE ARW opened at $120.16 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.32 billion, a P/E ratio of 13.41 and a beta of 1.27. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The stock has a 50 day moving average of $126.73 and a 200-day moving average of $127.08.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.14 earnings per share. As a group, equities research analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James lowered their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock 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.