Moran Wealth Management LLC Acquires Shares of 31,677 Arrow Electronics, Inc. (NYSE:ARW)

Moran Wealth Management LLC purchased a new stake in Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,677 shares of the technology company’s stock, valued at approximately $4,208,000. Moran Wealth Management LLC owned approximately 0.06% of Arrow Electronics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ontario Teachers Pension Plan Board grew its stake in shares of Arrow Electronics by 6.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,962 shares of the technology company’s stock valued at $1,190,000 after acquiring an additional 572 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Arrow Electronics in the third quarter valued at about $204,000. Seizert Capital Partners LLC grew its stake in shares of Arrow Electronics by 147.3% in the third quarter. Seizert Capital Partners LLC now owns 34,346 shares of the technology company’s stock valued at $4,562,000 after acquiring an additional 20,455 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Arrow Electronics by 46.6% in the third quarter. Natixis Advisors LLC now owns 211,975 shares of the technology company’s stock valued at $28,157,000 after acquiring an additional 67,404 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Arrow Electronics by 2.4% in the third quarter. Empowered Funds LLC now owns 27,397 shares of the technology company’s stock valued at $3,639,000 after acquiring an additional 636 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARW has been the topic of several research reports. Raymond James decreased their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reduced their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Stock Up 0.4 %

ARW stock opened at $114.15 on Thursday. 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 current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80. The firm has a 50-day moving average price of $127.96 and a 200-day moving average price of $127.48.

Arrow Electronics (NYSE:ARW) last posted its 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.14 earnings per share. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.29 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.