Custom Index Systems LLC Increases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Custom Index Systems LLC lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 77.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,645 shares of the technology company’s stock after buying an additional 2,896 shares during the quarter. Custom Index Systems LLC’s holdings in Arrow Electronics were worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake 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. Greenhaven Associates Inc. raised its stake in Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares in the last quarter. Cooke & Bieler LP lifted its position in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares during the last quarter. Earnest Partners LLC grew its stake in shares of 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 buying an additional 33,051 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Arrow Electronics by 9,044.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after buying an additional 1,204,837 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Raymond James raised their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Trading Down 1.1 %

Shares of ARW traded down $1.52 during trading hours on Friday, reaching $132.39. 321,219 shares of the company traded hands, compared to its average volume of 463,764. The stock’s fifty day moving average price is $131.56 and its 200 day moving average price is $128.05. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 10.41 and a beta of 1.26. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.62. The company had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 EPS. Sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

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.