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

Empowered Funds LLC grew its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,397 shares of the technology company’s stock after acquiring an additional 636 shares during the period. Empowered Funds LLC owned about 0.05% of Arrow Electronics worth $3,639,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its position in Arrow Electronics by 794.6% during 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 during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics during the third quarter worth about $73,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics in the third quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Arrow Electronics in the third quarter valued at approximately $88,000. Finally, GAMMA Investing LLC increased its position in Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Down 0.2 %

Shares of 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 quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.04 billion, a PE ratio of 12.82 and a beta of 1.27. The company’s fifty day simple moving average is $128.61 and its 200 day simple moving average is $127.70.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during 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 firm’s revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 EPS. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Raymond James dropped their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. 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 report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.