Pacer Advisors Inc. Buys 876,396 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Pacer Advisors Inc. raised its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 71.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,094,555 shares of the technology company's stock after buying an additional 876,396 shares during the period. Pacer Advisors Inc. owned approximately 3.98% of Arrow Electronics worth $278,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners boosted its holdings in shares of Arrow Electronics by 108.5% in the 1st quarter. Boston Partners now owns 1,001,443 shares of the technology company's stock valued at $129,622,000 after buying an additional 521,117 shares in the last quarter. Lind Value II ApS acquired a new position in Arrow Electronics during the first quarter worth approximately $66,949,000. Dimensional Fund Advisors LP lifted its stake in Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company's stock valued at $331,353,000 after buying an additional 325,122 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Arrow Electronics by 657.5% during the 1st quarter. Janus Henderson Group PLC now owns 222,888 shares of the technology company's stock worth $28,854,000 after purchasing an additional 193,462 shares during the period. Finally, Khrom Capital Management LLC boosted its stake in shares of Arrow Electronics by 124.7% during the first quarter. Khrom Capital Management LLC now owns 211,265 shares of the technology company's stock worth $27,350,000 after buying an additional 117,245 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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. Raymond James reduced 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. Finally, Truist Financial dropped their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics has a consensus rating of "Hold" and a consensus price target of $124.25.

Arrow Electronics Stock Up 2.7 %

Arrow Electronics stock traded up $3.04 during midday trading on Thursday, hitting $117.17. The stock had a trading volume of 202,861 shares, compared to its average volume of 463,960. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.16 billion, a P/E ratio of 13.09 and a beta of 1.27. The business has a fifty day moving average price of $127.96 and a 200 day moving average price of $127.48.

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