True Wealth Design LLC Takes Position in Arrow Electronics, Inc. (NYSE:ARW)

True Wealth Design LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 234 shares of the technology company’s stock, valued at approximately $31,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Arrow Electronics by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company’s stock worth $3,795,000 after buying an additional 1,381 shares during the period. Cetera Advisors LLC bought a new position in shares of Arrow Electronics during the first quarter valued at approximately $235,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics during the first quarter valued at approximately $81,000. Versant Capital Management Inc boosted its position in shares of Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Arrow Electronics by 251.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 29,413 shares of the technology company’s stock worth $3,552,000 after buying an additional 21,036 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $120.16 on Monday. The company has a 50 day moving average of $126.73 and a 200 day moving average of $127.08. 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 cap of $6.32 billion, a P/E ratio of 13.41 and a beta of 1.27.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on ARW shares. Truist Financial lowered their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James lowered their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus price target of $124.25.

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.