Moran Wealth Management LLC Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

Moran Wealth Management LLC purchased a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 31,677 shares of the technology company’s stock, valued at approximately $4,208,000.

Several other hedge funds have also recently added to or reduced their stakes in ARW. Versant Capital Management Inc grew its position in shares of 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 period. Capital Performance Advisors LLP acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth approximately $88,000. Finally, GAMMA Investing LLC grew its position in shares of Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.4 %

Shares of Arrow Electronics stock opened at $114.15 on Thursday. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The stock’s 50-day simple moving average is $127.96 and its 200 day simple moving average is $127.48. The stock has a market capitalization of $6.00 billion, a P/E ratio of 12.74 and a beta of 1.27. 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 (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.14 EPS. As a group, research analysts anticipate that Arrow Electronics, Inc. will post 10.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial reduced 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 report on Friday, November 1st. Raymond James reduced their price objective 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. Finally, Wells Fargo & Company lifted their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.