Tidal Investments LLC Raises Stock Position in Arrow Electronics, Inc. (NYSE:ARW)

Tidal Investments LLC grew its position in Arrow Electronics, Inc. (NYSE:ARW) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,223 shares of the technology company’s stock after buying an additional 245 shares during the period. Tidal Investments LLC’s holdings in Arrow Electronics were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its position in shares of Arrow Electronics by 2.2% during the 2nd quarter. Raymond James & Associates now owns 57,363 shares of the technology company’s stock worth $6,927,000 after purchasing an additional 1,262 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Arrow Electronics during the second quarter valued at about $222,000. Bank of New York Mellon Corp raised its stake in shares of Arrow Electronics by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock valued at $68,469,000 after acquiring an additional 30,786 shares during the period. Meixler Investment Management Ltd. lifted its holdings in shares of Arrow Electronics by 7.7% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock worth $207,000 after acquiring an additional 122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arrow Electronics by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,792 shares of the technology company’s stock worth $1,303,000 after purchasing an additional 646 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of ARW opened at $115.42 on Friday. The company has a market cap of $6.07 billion, a P/E ratio of 12.88 and a beta of 1.26. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $123.35 and its 200 day moving average price is $126.06.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion for 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 revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 earnings per share. On average, research analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial cut their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st.

About Arrow Electronics

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.