Arrow Electronics, Inc. (NYSE:ARW) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 71.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,094,555 shares of the technology company’s stock after buying an additional 876,396 shares during the quarter. Pacer Advisors Inc. owned approximately 3.98% of Arrow Electronics worth $278,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners grew its holdings in shares of Arrow Electronics by 108.5% during the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after purchasing an additional 521,117 shares during the last quarter. Lind Value II ApS acquired a new position in Arrow Electronics during the 1st quarter worth approximately $66,949,000. 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 acquiring an additional 325,122 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Arrow Electronics by 657.5% in the 1st quarter. Janus Henderson Group PLC now owns 222,888 shares of the technology company’s stock valued at $28,854,000 after purchasing an additional 193,462 shares in the last quarter. Finally, Khrom Capital Management LLC increased its holdings in Arrow Electronics by 124.7% in the first quarter. Khrom Capital Management LLC now owns 211,265 shares of the technology company’s stock valued at $27,350,000 after buying an additional 117,245 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Up 0.4 %

Shares of Arrow Electronics stock opened at $114.15 on Thursday. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 12.74 and a beta of 1.27. The business’s 50 day simple moving average is $127.96 and its 200-day simple moving average is $127.48. The company has a current ratio of 1.46, a quick ratio of 1.09 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.

Arrow Electronics (NYSE:ARW) last released its quarterly 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. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.14 earnings per share. Equities research analysts forecast that Arrow Electronics, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARW shares. Wells Fargo & Company increased their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Raymond James dropped their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, 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 report 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 stock. According to data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and an average price target of $124.25.

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.