Net Worth Advisory Group Buys New Shares in Arrow Electronics, Inc. (NYSE:ARW)

Net Worth Advisory Group acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,650 shares of the technology company's stock, valued at approximately $883,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Arrow Electronics by 13.4% during 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 in the last quarter. Greenhaven Associates Inc. grew its position in Arrow Electronics by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company's stock worth $227,377,000 after acquiring an additional 32,052 shares in the last quarter. Cooke & Bieler LP grew its position in Arrow Electronics by 3.1% in the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock worth $226,722,000 after acquiring an additional 56,781 shares in the last quarter. Earnest Partners LLC grew its position in Arrow Electronics by 2.4% in the second 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 in the last quarter. Finally, Pacer Advisors Inc. grew its position in 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 worth $147,105,000 after acquiring an additional 1,204,837 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ARW shares. Raymond James boosted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Truist Financial boosted their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $130.75.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock traded down $1.59 on Friday, reaching $135.55. The stock had a trading volume of 289,085 shares, compared to its average volume of 468,034. The business's 50-day moving average price is $131.02 and its two-hundred day moving average price is $127.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.39. The stock has a market cap of $7.22 billion, a P/E ratio of 10.66 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business had revenue of $6.89 billion during the quarter, compared to analysts' expectations of $6.52 billion. During the same period in the previous year, the company earned $4.37 earnings per share. Arrow Electronics's revenue for the quarter was down 19.0% on a year-over-year basis. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

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.