Verition Fund Management LLC Increases Position in Arrow Electronics, Inc. (NYSE:ARW)

Verition Fund Management LLC raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 644.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,727 shares of the technology company’s stock after purchasing an additional 16,210 shares during the period. Verition Fund Management LLC’s holdings in Arrow Electronics were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Cetera Advisors LLC purchased a new stake in shares of Arrow Electronics during the first quarter valued at $235,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the 1st quarter worth approximately $81,000. CWM LLC raised its position in Arrow Electronics by 59.7% during the 2nd quarter. CWM LLC now owns 1,714 shares of the technology company’s stock worth $207,000 after buying an additional 641 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Arrow Electronics by 12.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,976 shares of the technology company’s stock valued at $842,000 after acquiring an additional 753 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Arrow Electronics in the second quarter worth $938,000. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ARW. Truist Financial decreased their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Raymond James lowered their target price 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. One 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $119.36 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a fifty day moving average of $125.80 and a 200 day moving average of $126.86. The firm has a market cap of $6.28 billion, a PE ratio of 13.32 and a beta of 1.26. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share 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 business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the business posted $4.14 earnings per share. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. As a group, research analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

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.