AE Wealth Management LLC Acquires Shares of 27,274 Arrow Electronics, Inc. (NYSE:ARW)

AE Wealth Management LLC acquired a new stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 27,274 shares of the technology company’s stock, valued at approximately $3,906,000.

Several other large investors have also recently added to or reduced their stakes in ARW. Panagora Asset Management Inc. increased its stake in Arrow Electronics by 12.3% in the 1st quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock valued at $413,000 after buying an additional 380 shares during the period. Blair William & Co. IL acquired a new position in Arrow Electronics in the 1st quarter valued at approximately $273,000. Prudential PLC acquired a new position in Arrow Electronics in the 1st quarter valued at approximately $302,000. Cetera Investment Advisers acquired a new position in Arrow Electronics in the 1st quarter valued at approximately $275,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Arrow Electronics during the 1st quarter worth $52,000. Institutional investors and hedge funds own 94.79% of the company’s stock.

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Arrow Electronics Stock Performance

NYSE:ARW opened at $127.90 on Thursday. Arrow Electronics, Inc. has a 1 year low of $89.38 and a 1 year high of $147.42. The firm’s fifty day simple moving average is $132.78 and its 200 day simple moving average is $127.65. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $7.12 billion, a PE ratio of 6.51, a PEG ratio of 1.98 and a beta of 1.42.

Arrow Electronics (NYSE:ARW – Get Free Report) last posted its earnings results on Thursday, August 3rd. The technology company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.04. Arrow Electronics had a net margin of 3.35% and a return on equity of 22.19%. The business had revenue of $8.51 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period last year, the business posted $5.78 EPS. Arrow Electronics’s revenue was down 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 16.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARW. Bank of America dropped their price target on shares of Arrow Electronics from $155.00 to $148.00 in a research note on Sunday, August 6th. StockNews.com began coverage on shares of Arrow Electronics in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Truist Financial increased their price target on shares of Arrow Electronics from $131.00 to $138.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus target price of $129.57.

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Arrow Electronics Profile

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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.

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