State Street Corp Buys 4,811 Shares of Arrow Electronics, Inc. (NYSE:ARW)

State Street Corp boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,689,695 shares of the technology company's stock after buying an additional 4,811 shares during the period. State Street Corp owned approximately 3.21% of Arrow Electronics worth $224,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $331,353,000 after purchasing an additional 325,122 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after purchasing an additional 876,396 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock valued at $226,722,000 after buying an additional 56,781 shares during the last quarter. Earnest Partners LLC grew its position in shares of Arrow Electronics by 2.4% during the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock worth $169,979,000 after buying an additional 33,051 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Arrow Electronics by 10.0% in the second quarter. Sei Investments Co. now owns 699,806 shares of the technology company's stock valued at $84,506,000 after acquiring an additional 63,506 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Arrow Electronics Price Performance

NYSE:ARW traded up $0.06 during midday trading on Thursday, hitting $123.13. 151,401 shares of the stock were exchanged, compared to its average volume of 458,860. The business has a 50-day moving average price of $124.94 and a two-hundred day moving average price of $126.53. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 13.73 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.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the business earned $4.14 EPS. The company's quarterly revenue was down 14.8% compared to the same quarter last year. Sell-side analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ARW shares. Raymond James reduced their price objective on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Truist Financial cut their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. One investment 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 data from MarketBeat, Arrow Electronics currently has an average rating of "Hold" and a consensus target price of $124.25.

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.