GSA Capital Partners LLP Makes New $1.37 Million Investment in Arrow Electronics, Inc. (NYSE:ARW)

GSA Capital Partners LLP purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,275 shares of the technology company's stock, valued at approximately $1,365,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP raised its position in Arrow Electronics by 114.4% during the third quarter. Versor Investments LP now owns 9,575 shares of the technology company's stock worth $1,272,000 after acquiring an additional 5,109 shares in the last quarter. Meixler Investment Management Ltd. raised its position in shares of Arrow Electronics by 94.2% in the third quarter. Meixler Investment Management Ltd. now owns 3,333 shares of the technology company's stock valued at $443,000 after purchasing an additional 1,617 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Arrow Electronics in the third quarter valued at about $267,000. Meritage Portfolio Management raised its position in shares of Arrow Electronics by 9.0% in the third quarter. Meritage Portfolio Management now owns 2,169 shares of the technology company's stock valued at $288,000 after purchasing an additional 180 shares during the period. Finally, Covestor Ltd raised its position in shares of Arrow Electronics by 14.0% in the third quarter. Covestor Ltd now owns 1,064 shares of the technology company's stock valued at $141,000 after purchasing an additional 131 shares during the period. 99.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARW has been the topic of several research reports. 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 research note on Friday, August 2nd. Raymond James reduced their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial reduced their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. One investment 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. According to data from MarketBeat.com, Arrow Electronics currently has an average rating of "Hold" and an average price target of $124.25.

Arrow Electronics Price Performance

Shares of ARW traded up $0.31 during mid-day trading on Thursday, reaching $114.79. The company had a trading volume of 103,050 shares, compared to its average volume of 462,577. The company's 50 day simple moving average is $129.12 and its 200 day simple moving average is $127.87. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 12.79 and a beta of 1.27.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm's quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the business earned $4.14 EPS. Analysts expect that Arrow Electronics, Inc. will post 10.29 EPS 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.