Ontario Teachers Pension Plan Board Purchases 572 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Ontario Teachers Pension Plan Board grew its position in Arrow Electronics, Inc. (NYSE:ARW) by 6.8% in the third quarter, Holdings Channel reports. The fund owned 8,962 shares of the technology company’s stock after acquiring an additional 572 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Arrow Electronics were worth $1,190,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock valued at $3,421,000 after purchasing an additional 82 shares during the period. Two Point Capital Management Inc. increased its holdings 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 purchasing an additional 95 shares during the period. SummerHaven Investment Management LLC increased its holdings in Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after purchasing an additional 117 shares during the period. Meixler Investment Management Ltd. increased its holdings in Arrow Electronics by 7.7% in the second quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock valued at $207,000 after purchasing an additional 122 shares during the period. Finally, Creative Planning increased 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 during the period. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Trading Up 0.4 %

Shares of ARW stock opened at $114.15 on Thursday. The company has a 50 day moving average of $127.96 and a 200-day moving average of $127.48. 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, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The firm has a market cap of $6.00 billion, a P/E ratio of 12.74 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the business posted $4.14 EPS. Arrow Electronics’s quarterly revenue was down 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARW. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Wells Fargo & Company increased their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics currently has an average rating of “Hold” and a consensus target price of $124.25.

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.