Van ECK Associates Corp Raises Stake in Arrow Electronics, Inc. (NYSE:ARW)

Van ECK Associates Corp boosted its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,576 shares of the technology company's stock after purchasing an additional 8,450 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Arrow Electronics worth $3,915,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARW. Versant Capital Management Inc raised its position in Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock worth $40,000 after buying an additional 294 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics during the third quarter worth about $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arrow Electronics in the third quarter valued at about $88,000. GAMMA Investing LLC boosted its holdings in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company's stock valued at $92,000 after purchasing an additional 137 shares in the last quarter. Finally, Quarry LP purchased a new stake in Arrow Electronics in the 2nd quarter valued at approximately $107,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARW has been the subject of several recent analyst reports. Truist Financial reduced 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, November 1st. Wells Fargo & Company raised their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a report on Friday, August 2nd. Finally, Raymond James lowered their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" 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 assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $124.25.

Arrow Electronics Price Performance

Shares of ARW traded down $1.19 on Friday, reaching $120.20. The stock had a trading volume of 360,979 shares, compared to its average volume of 405,098. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $137.80. The firm has a market capitalization of $6.32 billion, a PE ratio of 13.42 and a beta of 1.27. The firm has a 50-day moving average of $129.96 and a 200 day moving average of $128.10. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $6.73 billion. During the same quarter in the prior year, the company earned $4.14 earnings per share. Arrow Electronics's revenue was down 14.8% compared to the same quarter last year. Sell-side analysts expect that Arrow Electronics, Inc. will post 10.43 EPS for the current 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.