MML Investors Services LLC Purchases 720 Shares of Arrow Electronics, Inc. (NYSE:ARW)

MML Investors Services LLC grew its position in Arrow Electronics, Inc. (NYSE:ARW) by 5.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,142 shares of the technology company’s stock after buying an additional 720 shares during the period. MML Investors Services LLC’s holdings in Arrow Electronics were worth $1,746,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ARW. True Wealth Design LLC bought a new stake in shares of Arrow Electronics in the 3rd quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in Arrow Electronics in the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP acquired a new stake in Arrow Electronics in the 3rd quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics in the 3rd quarter worth approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arrow Electronics in the 3rd quarter worth approximately $88,000. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Stock Performance

ARW opened at $117.92 on Wednesday. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.20 billion, a PE ratio of 13.16 and a beta of 1.26. The firm has a 50 day moving average of $124.35 and a two-hundred day moving average of $126.30.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the firm posted $4.14 EPS. Arrow Electronics’s revenue for the quarter was down 14.8% compared to the same quarter last year. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARW. Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st.

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.