Arrow Electronics, Inc. (NYSE:ARW) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its stake in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 644.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,727 shares of the technology company's stock after acquiring an additional 16,210 shares during the period. Verition Fund Management LLC's holdings in Arrow Electronics were worth $2,488,000 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. Dimensional Fund Advisors LP raised its position in Arrow Electronics by 13.4% in 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 during the period. Pacer Advisors Inc. raised its holdings in shares of Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock valued at $278,220,000 after buying an additional 876,396 shares during the period. Greenhaven Associates Inc. lifted its stake in Arrow Electronics by 1.7% during the 2nd 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 boosted its holdings in 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 acquiring an additional 56,781 shares during the period. Finally, Earnest Partners LLC grew its position in Arrow Electronics by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock valued at $169,979,000 after acquiring an additional 33,051 shares in the last quarter. 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 research reports. Truist Financial lowered their price objective 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, November 1st. Raymond James decreased their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. One 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $124.25.

Arrow Electronics Stock Up 0.9 %

Shares of ARW traded up $1.13 during midday trading on Friday, hitting $120.49. The company had a trading volume of 268,508 shares, compared to its average volume of 460,932. The company's 50-day simple moving average is $125.54 and its 200-day simple moving average is $126.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. 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 $6.34 billion, a P/E ratio of 13.45 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 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company's quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.14 EPS. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 10.23 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.