MML Investors Services LLC grew its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) by 10.5% in the third quarter, HoldingsChannel.com reports. The firm owned 11,728 shares of the technology company’s stock after purchasing an additional 1,111 shares during the period. MML Investors Services LLC’s holdings in Arrow Electronics were worth $1,081,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Towle & Co increased its holdings in Arrow Electronics by 1.8% during the 3rd quarter. Towle & Co now owns 213,860 shares of the technology company’s stock worth $19,716,000 after purchasing an additional 3,840 shares in the last quarter. Cunning Capital Partners LP increased its holdings in Arrow Electronics by 24.7% during the 3rd quarter. Cunning Capital Partners LP now owns 14,840 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 2,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Arrow Electronics by 190.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,339 shares of the technology company’s stock worth $7,130,000 after purchasing an additional 50,689 shares in the last quarter. FORA Capital LLC bought a new stake in Arrow Electronics during the 3rd quarter worth approximately $981,000. Finally, Hsbc Holdings PLC increased its holdings in Arrow Electronics by 3.4% during the 3rd quarter. Hsbc Holdings PLC now owns 295,525 shares of the technology company’s stock worth $27,378,000 after purchasing an additional 9,768 shares in the last quarter. 95.49% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on ARW shares. Raymond James boosted their price objective on Arrow Electronics from $125.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. The Goldman Sachs Group upped their target price on Arrow Electronics from $111.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, February 6th. Truist Financial upped their target price on Arrow Electronics from $116.00 to $131.00 and gave the company a “hold” rating in a report on Friday, February 3rd. Citigroup upped their target price on Arrow Electronics from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Finally, Wells Fargo & Company upped their target price on Arrow Electronics from $87.00 to $100.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.33.
Insiders Place Their Bets
Arrow Electronics Price Performance
Arrow Electronics stock opened at $120.18 on Friday. Arrow Electronics, Inc. has a 12 month low of $89.38 and a 12 month high of $134.56. The company has a current ratio of 1.48, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $116.32 and its 200 day simple moving average is $107.68. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 1.87 and a beta of 1.41.
Arrow Electronics (NYSE:ARW – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The technology company reported $5.69 EPS for the quarter, beating the consensus estimate of $5.68 by $0.01. The business had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.31 billion. Arrow Electronics had a return on equity of 26.96% and a net margin of 3.84%. Arrow Electronics’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.37 earnings per share. Sell-side analysts forecast that Arrow Electronics, Inc. will post 15.8 EPS for the current year.
Arrow Electronics Profile
Arrow Electronics, Inc engages in the provision of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates under the Global Components Business and Global Enterprise Computing Solutions (Global ECS) segments. The Global Components segment focuses on marketing and distribution of electronic components enabled by a comprehensive range of value-added capabilities and services.
- Get a free copy of the StockNews.com research report on Arrow Electronics (ARW)
- Hormel Hits 2-Year Low, And The Dip Gets Bought
- Here’s Why Ross Could Soon Be Hitting All Time Highs
- The Bottom Is In For Salesforce.com
- It’s Time For A Fresh Look At The Kroger Co.
- West Fraser’s Earnings Scream Timber, Outlook Says Buy
Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW – Get Rating).
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.