Raymond James & Associates Has $6.53 Million Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Raymond James & Associates cut its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,149 shares of the technology company's stock after selling 8,214 shares during the quarter. Raymond James & Associates owned approximately 0.09% of Arrow Electronics worth $6,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp lifted its position in Arrow Electronics by 0.3% in the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company's stock valued at $3,421,000 after purchasing an additional 82 shares during the last quarter. Two Point Capital Management Inc. boosted its position in shares of Arrow Electronics by 0.4% during the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company's stock worth $2,606,000 after buying an additional 95 shares during the period. QRG Capital Management Inc. increased its position in Arrow Electronics by 1.7% in the 1st quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company's stock valued at $806,000 after acquiring an additional 107 shares during the period. Commonwealth Equity Services LLC increased its position in Arrow Electronics by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company's stock valued at $598,000 after acquiring an additional 108 shares during the period. Finally, SummerHaven Investment Management LLC raised its stake in Arrow Electronics by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company's stock valued at $626,000 after acquiring an additional 117 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James lowered their price target on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Friday. Wells Fargo & Company raised their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Friday, August 2nd. Finally, Truist Financial reduced their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Arrow Electronics currently has an average rating of "Hold" and an average target price of $124.25.

Arrow Electronics Price Performance

NYSE:ARW traded up $2.41 during mid-day trading on Friday, reaching $121.08. 675,396 shares of the stock were exchanged, compared to its average volume of 467,028. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $131.57 and a 200 day moving average price of $128.16. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80. The firm has a market capitalization of $6.41 billion, a PE ratio of 11.41 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) 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 company had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.73 billion. During the same quarter in the previous year, the company posted $4.14 EPS. The business's revenue was down 14.8% compared to the same quarter last year. Research analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

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.