Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC lowered its position in Arrow Electronics, Inc. (NYSE:ARW) by 16.1% during the second quarter, Holdings Channel.com reports. The fund owned 3,749 shares of the technology company’s stock after selling 722 shares during the quarter. Custom Index Systems LLC’s holdings in Arrow Electronics were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARW. Rise Advisors LLC acquired a new position in Arrow Electronics in the first quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after acquiring an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after acquiring an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new position in Arrow Electronics in the fourth quarter valued at $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the first quarter valued at $81,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ARW shares. Wells Fargo & Company lifted their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Raymond James lifted their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $130.75.

Arrow Electronics Trading Down 2.0 %

NYSE:ARW opened at $126.47 on Friday. The business’s 50-day moving average is $125.90 and its two-hundred day moving average is $125.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $136.93. The firm has a market capitalization of $6.73 billion, a PE ratio of 9.94 and a beta of 1.27.

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

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.