Peapack Gladstone Financial Corp Boosts Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Peapack Gladstone Financial Corp grew its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,664 shares of the technology company’s stock after buying an additional 1,251 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Arrow Electronics were worth $6,198,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of Arrow Electronics by 6.0% during the 3rd quarter. Synovus Financial Corp now owns 3,155 shares of the technology company’s stock worth $419,000 after buying an additional 178 shares in the last quarter. Tidal Investments LLC grew its holdings in Arrow Electronics by 3.5% during the third quarter. Tidal Investments LLC now owns 7,223 shares of the technology company’s stock worth $959,000 after acquiring an additional 245 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Arrow Electronics in the third quarter worth $621,000. Te Ahumairangi Investment Management Ltd lifted its holdings in Arrow Electronics by 4.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 31,847 shares of the technology company’s stock valued at $4,206,000 after acquiring an additional 1,400 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Arrow Electronics by 47.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,787 shares of the technology company’s stock worth $370,000 after purchasing an additional 893 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Down 1.3 %

Shares of ARW stock opened at $120.40 on Friday. The stock has a market cap of $6.33 billion, a P/E ratio of 13.44 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The business has a fifty day simple moving average of $124.58 and a 200-day simple moving average of $126.42.

Arrow Electronics (NYSE:ARW) last posted 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 net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the firm posted $4.14 EPS. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARW has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Arrow Electronics 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.