Custom Index Systems LLC Reduces Stake in Arrow Electronics, Inc. (NYSE:ARW)

Custom Index Systems LLC reduced its position in Arrow Electronics, Inc. (NYSE:ARW) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,749 shares of the technology company’s stock after selling 722 shares during the period. Custom Index Systems LLC’s holdings in Arrow Electronics were worth $453,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in Arrow Electronics in the 1st quarter valued at approximately $32,000. Versant Capital Management Inc increased its stake in Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after purchasing an additional 150 shares in the last quarter. Principal Securities Inc. purchased a new position in Arrow Electronics in the 4th quarter valued at approximately $56,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics in the 1st quarter valued at approximately $81,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Price Performance

ARW stock opened at $126.47 on Friday. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $136.93. The stock’s fifty day simple moving average is $125.90 and its 200-day simple moving average is $125.80. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 9.94 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter last year, the firm earned $4.37 earnings per share. The business’s revenue was down 19.0% on a year-over-year basis. Equities research analysts expect that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analyst Ratings Changes

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

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.