Meixler Investment Management Ltd. Raises Position in Arrow Electronics, Inc. (NYSE:ARW)

Meixler Investment Management Ltd. grew its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 94.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,333 shares of the technology company’s stock after acquiring an additional 1,617 shares during the period. Meixler Investment Management Ltd.’s holdings in Arrow Electronics were worth $443,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ARW. Dimensional Fund Advisors LP grew its stake 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 worth $331,353,000 after purchasing an additional 325,122 shares during the period. Greenhaven Associates Inc. grew its position in shares of Arrow Electronics by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after buying an additional 32,052 shares during the period. Cooke & Bieler LP increased its stake in shares of Arrow Electronics by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after acquiring an additional 56,781 shares in the last quarter. Earnest Partners LLC lifted its position in Arrow Electronics by 2.4% during 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 during the period. Finally, Pacer Advisors Inc. boosted its stake in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after acquiring an additional 1,204,837 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ARW. Raymond James decreased their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial reduced their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. 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 stock. 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 NYSE ARW opened at $120.20 on Monday. The company 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, Inc. has a twelve month low of $108.51 and a twelve month high of $137.80. The firm has a market cap of $6.32 billion, a P/E ratio of 13.42 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.14 earnings per share. As a group, research analysts expect that Arrow Electronics, Inc. will post 10.43 EPS for the current fiscal year.

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.