Arrow Electronics (NYSE:ARW) Given New $132.00 Price Target at The Goldman Sachs Group

Arrow Electronics (NYSE:ARW) had its price target boosted by The Goldman Sachs Group from $116.00 to $132.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Truist Financial lowered their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a hold rating for the company in a research report on Friday, February 9th.

Arrow Electronics Price Performance

ARW opened at $131.93 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a 50-day moving average of $126.03 and a 200-day moving average of $120.90. The company has a market capitalization of $7.02 billion, a P/E ratio of 10.37 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities analysts expect that Arrow Electronics will post 10.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the transaction, the director now owns 102 shares in the company, valued at approximately $13,524.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the transaction, the director now owns 102 shares in the company, valued at approximately $13,524.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,590 shares of company stock worth $1,076,854. Insiders own 0.60% of the company’s stock.

Institutional Trading of Arrow Electronics

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of Arrow Electronics in the 1st quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Arrow Electronics by 76.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new stake in Arrow Electronics during the fourth quarter valued at approximately $56,000. GAMMA Investing LLC acquired a new stake in Arrow Electronics during the fourth quarter valued at approximately $58,000. Finally, Johnson Financial Group Inc. lifted its stake in Arrow Electronics by 17.1% during the fourth quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock valued at $115,000 after purchasing an additional 137 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

About Arrow Electronics

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.