Greenhaven Associates Inc. increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,904,857 shares of the technology company’s stock after purchasing an additional 20,484 shares during the period. Arrow Electronics accounts for approximately 3.2% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 8th biggest position. Greenhaven Associates Inc. owned approximately 3.62% of Arrow Electronics worth $215,477,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Trail Advisors LLC increased its position in shares of Arrow Electronics by 2.8% in the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after buying an additional 108 shares in the last quarter. Creative Planning increased its position in shares of Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after acquiring an additional 123 shares in the last quarter. Covestor Ltd raised its stake in Arrow Electronics by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock valued at $141,000 after purchasing an additional 131 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Arrow Electronics by 9.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock worth $240,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ARW. 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 note on Friday, November 1st. Truist Financial decreased their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company cut their price objective on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 13th.
Arrow Electronics Stock Up 2.2 %
ARW stock opened at $119.24 on Wednesday. The stock has a 50-day simple moving average of $116.53 and a two-hundred day simple moving average of $124.03. 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 twelve month low of $108.51 and a twelve month high of $137.80. The firm has a market capitalization of $6.27 billion, a PE ratio of 13.31 and a beta of 1.26.
Arrow Electronics (NYSE:ARW – Get Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the firm earned $4.14 earnings per share. Arrow Electronics’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.26 EPS for the current fiscal year.
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.
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