Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Trajan Wealth LLC

Trajan Wealth LLC lessened its stake in Arrow Electronics, Inc. (NYSE:ARW) by 5.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,690 shares of the technology company’s stock after selling 100 shares during the period. Trajan Wealth LLC’s holdings in Arrow Electronics were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in Arrow Electronics by 10.4% in the 4th quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock valued at $748,000 after purchasing an additional 575 shares in the last quarter. Norges Bank purchased a new stake in Arrow Electronics in the 4th quarter valued at approximately $79,027,000. BNP Paribas Financial Markets boosted its holdings in Arrow Electronics by 40.7% in the 4th quarter. BNP Paribas Financial Markets now owns 214,327 shares of the technology company’s stock valued at $26,201,000 after purchasing an additional 61,957 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Arrow Electronics in the 1st quarter valued at approximately $682,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Arrow Electronics by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock valued at $7,404,000 after purchasing an additional 10,083 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARW. Truist Financial lifted their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Raymond James boosted their price target on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Price Performance

NYSE:ARW traded down $0.19 during trading hours on Wednesday, reaching $133.60. 367,987 shares of the company traded hands, compared to its average volume of 488,006. The firm’s 50-day moving average is $124.68 and its 200-day moving average is $124.85. The stock has a market cap of $7.11 billion, a P/E ratio of 10.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $135.31.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.37 EPS. Equities research analysts expect that Arrow Electronics, Inc. will post 10.34 earnings per share for the current fiscal year.

Arrow Electronics Company 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.