International Assets Investment Management LLC Acquires Shares of 40,779 Arrow Electronics, Inc. (NYSE:ARW)

International Assets Investment Management LLC bought a new stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,779 shares of the technology company's stock, valued at approximately $54,170,000. International Assets Investment Management LLC owned 0.08% of Arrow Electronics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Arrow Electronics by 3.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,816 shares of the technology company's stock worth $1,400,000 after buying an additional 373 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Arrow Electronics by 1.5% in the first quarter. State of Michigan Retirement System now owns 13,175 shares of the technology company's stock valued at $1,706,000 after purchasing an additional 200 shares during the period. State of Alaska Department of Revenue grew its stake in Arrow Electronics by 368.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company's stock worth $3,548,000 after purchasing an additional 21,563 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Arrow Electronics by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company's stock worth $598,000 after purchasing an additional 108 shares during the period. Finally, Van ECK Associates Corp raised its position in Arrow Electronics by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 19,574 shares of the technology company's stock valued at $2,534,000 after purchasing an additional 5,235 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

NYSE ARW traded up $1.43 during trading hours on Monday, hitting $133.82. The company had a trading volume of 318,411 shares, compared to its average volume of 463,065. The business has a 50 day moving average of $131.56 and a 200-day moving average of $128.06. The company has a market cap of $7.12 billion, a PE ratio of 10.41 and a beta of 1.26. 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 1-year low of $108.51 and a 1-year high of $137.39.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $6.52 billion. During the same period in the previous year, the company posted $4.37 EPS. The company's quarterly revenue was down 19.0% on a year-over-year basis. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Arrow Electronics Company 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.