Fmr LLC Acquires 342,590 Shares of Arrow Electronics, Inc. (NYSE:ARW)

FMR LLC grew its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 371.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 434,905 shares of the technology company's stock after purchasing an additional 342,590 shares during the quarter. FMR LLC owned about 0.83% of Arrow Electronics worth $57,768,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Pacer Advisors Inc. increased its holdings in shares of Arrow Electronics by 9,044.0% in the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company's stock valued at $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $331,353,000 after buying an additional 325,122 shares during the period. Lind Value II ApS raised its position in shares of Arrow Electronics by 15.5% during the second quarter. Lind Value II ApS now owns 597,520 shares of the technology company's stock worth $72,157,000 after acquiring an additional 80,379 shares during the last quarter. Khrom Capital Management LLC lifted its stake in shares of Arrow Electronics by 37.2% during the second quarter. Khrom Capital Management LLC now owns 289,921 shares of the technology company's stock valued at $35,011,000 after acquiring an additional 78,656 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Arrow Electronics by 46.6% in the third quarter. Natixis Advisors LLC now owns 211,975 shares of the technology company's stock valued at $28,157,000 after acquiring an additional 67,404 shares during the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on ARW shares. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. Raymond James dropped their price target 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of "Hold" and an average target price of $124.25.

Arrow Electronics Trading Up 0.9 %

ARW traded up $1.13 during midday trading on Friday, reaching $120.49. 268,508 shares of the company were exchanged, compared to its average volume of 387,396. The stock has a market capitalization of $6.34 billion, a P/E ratio of 13.45 and a beta of 1.26. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The stock's 50-day simple moving average is $125.54 and its 200 day simple moving average is $126.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for 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%. Arrow Electronics's quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 EPS. As a group, analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share 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.