Riverwater Partners LLC Buys 329 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Riverwater Partners LLC lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 18.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,135 shares of the technology company’s stock after purchasing an additional 329 shares during the quarter. Riverwater Partners LLC’s holdings in Arrow Electronics were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp increased its stake in shares of Arrow Electronics by 0.3% in the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock valued at $3,421,000 after buying an additional 82 shares during the period. Two Point Capital Management Inc. raised its holdings in Arrow Electronics by 0.4% during the 2nd quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 95 shares during the last quarter. QRG Capital Management Inc. lifted its position in Arrow Electronics by 1.7% during the 1st quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock valued at $806,000 after purchasing an additional 107 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Arrow Electronics by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after purchasing an additional 108 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of Arrow Electronics by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after buying an additional 117 shares during the period. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 0.9 %

NYSE:ARW opened at $132.36 on Thursday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.39. The stock has a 50-day moving average price of $131.42 and a two-hundred day moving average price of $127.98. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 10.41 and a beta of 1.26. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.62. The business had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. Arrow Electronics’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.37 EPS. As a group, equities analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ARW shares. Raymond James raised their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Arrow Electronics currently has a consensus rating of “Hold” and a consensus price target of $130.75.

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.