Martingale Asset Management L P Grows Position in Arrow Electronics, Inc. (NYSE:ARW)

Martingale Asset Management L P increased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3,768.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,290 shares of the technology company’s stock after acquiring an additional 81,137 shares during the period. Martingale Asset Management L P’s holdings in Arrow Electronics were worth $11,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Arrow Electronics by 13.4% in the 2nd 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 last quarter. Pacer Advisors Inc. lifted its stake in shares of Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. lifted its stake in shares of Arrow Electronics by 1.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after buying an additional 32,052 shares in the last quarter. Cooke & Bieler LP lifted its stake in Arrow Electronics by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after purchasing an additional 56,781 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock worth $169,979,000 after purchasing an additional 33,051 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ARW shares. Wells Fargo & Company upped their target price 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 target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial dropped their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics currently has an average rating of “Hold” and an average target price of $124.25.

Arrow Electronics Stock Up 0.8 %

NYSE:ARW opened at $120.30 on Friday. The firm has a market capitalization of $6.33 billion, a P/E ratio of 13.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The company’s fifty day moving average price is $126.96 and its 200-day moving average price is $127.18. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80.

Arrow Electronics (NYSE:ARW) last announced 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 business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.14 earnings per share. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Arrow Electronics Company 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.