Empowered Funds LLC Acquires 636 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Empowered Funds LLC grew its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,397 shares of the technology company’s stock after purchasing an additional 636 shares during the period. Empowered Funds LLC’s holdings in Arrow Electronics were worth $3,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARW. Dimensional Fund Advisors LP grew its holdings in Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after buying an additional 325,122 shares in the last quarter. Greenhaven Associates Inc. grew its stake in shares of Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after acquiring an additional 32,052 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Arrow Electronics by 3.1% in the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Arrow Electronics by 2.4% in the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after purchasing an additional 33,051 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARW has been the subject of several analyst reports. Truist Financial decreased their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Raymond James reduced their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and an average target price of $124.25.

Arrow Electronics Trading Down 0.2 %

NYSE:ARW opened at $114.90 on Tuesday. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. 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 firm’s 50 day moving average is $128.61 and its 200 day moving average is $127.70. The stock has a market capitalization of $6.04 billion, a PE ratio of 12.82 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (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 analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.14 earnings per share. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.29 earnings per share for the current 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.