Meritage Portfolio Management Buys 267 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Meritage Portfolio Management grew its stake in Arrow Electronics, Inc. (NYSE:ARW) by 12.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,436 shares of the technology company’s stock after acquiring an additional 267 shares during the period. Meritage Portfolio Management’s holdings in Arrow Electronics were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Summit Trail Advisors LLC boosted its stake in shares of Arrow Electronics by 2.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after purchasing an additional 108 shares in the last quarter. Creative Planning boosted its stake in shares of Arrow Electronics by 1.1% in the 3rd quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after purchasing an additional 123 shares in the last quarter. Covestor Ltd boosted its stake in shares of Arrow Electronics by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock valued at $141,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Arrow Electronics by 9.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock valued at $240,000 after purchasing an additional 153 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James cut their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Arrow Electronics Stock Down 4.5 %

Shares of NYSE ARW opened at $109.79 on Friday. The company has a market capitalization of $5.77 billion, a P/E ratio of 12.25 and a beta of 1.26. Arrow Electronics, Inc. has a 52-week low of $105.00 and a 52-week high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The company’s 50 day moving average price is $116.32 and its 200-day moving average price is $123.50.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. Equities analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current year.

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.