Cerity Partners LLC Purchases 7,028 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Cerity Partners LLC boosted its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 140.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,034 shares of the technology company's stock after purchasing an additional 7,028 shares during the period. Cerity Partners LLC's holdings in Arrow Electronics were worth $1,598,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ARW. Price T Rowe Associates Inc. MD lifted its stake in shares of Arrow Electronics by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company's stock valued at $3,795,000 after buying an additional 1,381 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Arrow Electronics in the first quarter worth about $235,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arrow Electronics during the first quarter worth about $81,000. Versant Capital Management Inc raised its stake in Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock valued at $40,000 after purchasing an additional 294 shares during the period. Finally, CWM LLC lifted its holdings in Arrow Electronics by 59.7% in the 2nd quarter. CWM LLC now owns 1,714 shares of the technology company's stock worth $207,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 report on Friday, November 1st. Raymond James cut their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $124.25.

Arrow Electronics Price Performance

Shares of ARW traded down $1.31 during mid-day trading on Tuesday, hitting $121.29. 514,680 shares of the stock were exchanged, compared to its average volume of 375,202. 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 cap of $6.38 billion, a PE ratio of 13.54 and a beta of 1.26. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The firm has a 50-day moving average of $126.31 and a two-hundred day moving average of $126.96.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating 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 business 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 earned $4.14 earnings per share. Arrow Electronics's quarterly revenue was down 14.8% compared to the same quarter last year. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.23 earnings per share 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.