Charles Schwab Investment Management Inc. Increases Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Charles Schwab Investment Management Inc. grew its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,936 shares of the technology company's stock after purchasing an additional 10,340 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.92% of Arrow Electronics worth $64,281,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ARW. Versant Capital Management Inc lifted its holdings in Arrow Electronics by 794.6% in 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 in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics during the third quarter valued at approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics during the third quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arrow Electronics in the 3rd quarter worth approximately $88,000. Finally, GAMMA Investing LLC raised its holdings in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company's stock valued at $92,000 after acquiring an additional 137 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Trading Up 0.6 %

ARW stock traded up $0.77 during trading on Friday, reaching $120.16. 134,199 shares of the stock traded hands, compared to its average volume of 462,048. The firm has a market capitalization of $6.32 billion, a PE ratio of 13.43 and a beta of 1.27. 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 moving average price is $126.73 and its 200-day moving average price is $127.12. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.15. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company's revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 EPS. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

ARW has been the topic of several analyst reports. Wells Fargo & Company raised their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Finally, Raymond James dropped 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $124.25.

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.