Arrow Electronics (NYSE:ARW) Given New $135.00 Price Target at Raymond James

Arrow Electronics (NYSE:ARW - Free Report) had its price objective lowered by Raymond James from $140.00 to $135.00 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the technology company's stock.

ARW has been the subject of several other reports. Wells Fargo & Company boosted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Friday, August 2nd. Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $124.25.

Arrow Electronics Price Performance

Shares of NYSE:ARW traded up $2.41 during trading on Friday, reaching $121.08. 675,396 shares of the company traded hands, compared to its average volume of 467,028. The firm has a market capitalization of $6.41 billion, a PE ratio of 11.41 and a beta of 1.26. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $131.57 and its two-hundred day moving average is $128.16.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted 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. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.73 billion. During the same quarter in the prior year, the business posted $4.14 earnings per share. Arrow Electronics's revenue was down 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Arrow Electronics will post 10.74 earnings per share for the current year.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds have recently modified their holdings of ARW. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 325,122 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company's stock valued at $227,377,000 after buying an additional 32,052 shares during the last quarter. Cooke & Bieler LP boosted its position in Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock worth $226,722,000 after buying an additional 56,781 shares during the period. Earnest Partners LLC grew its holdings in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock worth $169,979,000 after acquiring an additional 33,051 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Arrow Electronics by 9,044.0% in 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 period. Institutional investors and hedge funds own 99.34% of the company's stock.

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.