JPMorgan Chase & Co. Boosts Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

JPMorgan Chase & Co. boosted its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 115.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,800 shares of the technology company's stock after buying an additional 168,904 shares during the period. JPMorgan Chase & Co. owned approximately 0.60% of Arrow Electronics worth $41,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ARW. Pacer Advisors Inc. boosted its position in shares of Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company's stock valued at $147,105,000 after acquiring an additional 1,204,837 shares during the last quarter. FMR LLC lifted its position in Arrow Electronics by 371.1% during the third quarter. FMR LLC now owns 434,905 shares of the technology company's stock valued at $57,768,000 after purchasing an additional 342,590 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 325,122 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company's stock worth $19,859,000 after buying an additional 102,854 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Arrow Electronics by 3,768.6% during the 3rd quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company's stock valued at $11,063,000 after buying an additional 81,137 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial dropped their price target on 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 decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday, November 1st.

Arrow Electronics Trading Down 1.0 %

Shares of NYSE:ARW traded down $1.14 on Monday, hitting $112.00. 500,794 shares of the company's stock were exchanged, compared to its average volume of 364,431. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.50 and a beta of 1.26. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The business's 50 day simple moving average is $118.85 and its two-hundred day simple moving average is $124.69.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.15. The company 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 revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the business posted $4.14 EPS. Analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS 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.