Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its position in Arrow Electronics, Inc. (NYSE:ARW) by 3.5% during the third quarter, Holdings Channel.com reports. The firm owned 7,223 shares of the technology company’s stock after acquiring an additional 245 shares during the period. Tidal Investments LLC’s holdings in Arrow Electronics were worth $959,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ARW. Two Point Capital Management Inc. raised its stake in Arrow Electronics by 0.4% in the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock valued at $2,606,000 after buying an additional 95 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Arrow Electronics by 2.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock worth $521,000 after acquiring an additional 108 shares in the last quarter. Meixler Investment Management Ltd. raised its position in shares of Arrow Electronics by 7.7% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock worth $207,000 after acquiring an additional 122 shares in the last quarter. Creative Planning boosted its holdings in Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after purchasing an additional 123 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Arrow Electronics by 4.1% in the second quarter. Inspire Investing LLC now owns 3,307 shares of the technology company’s stock valued at $399,000 after purchasing an additional 130 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Down 0.3 %

ARW opened at $115.42 on Friday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 12.88 and a beta of 1.26. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The business’s 50 day moving average is $123.35 and its two-hundred day moving average is $126.06. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. Arrow Electronics’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, research analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Raymond James reduced 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.

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.