Arrow Electronics, Inc. (NYSE:ARW) Position Increased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 19.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,153 shares of the technology company’s stock after acquiring an additional 343 shares during the period. Foundations Investment Advisors LLC’s holdings in Arrow Electronics were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC grew its position in shares of Arrow Electronics by 2.8% during the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock worth $521,000 after acquiring an additional 108 shares during the last quarter. Creative Planning boosted its position in shares of Arrow Electronics by 1.1% during the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after buying an additional 123 shares during the period. Covestor Ltd grew its holdings in Arrow Electronics by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after buying an additional 131 shares in the last quarter. GAMMA Investing LLC increased its position in 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 acquiring an additional 137 shares during the period. Finally, Studio Investment Management LLC raised its stake in Arrow Electronics by 5.9% during the 3rd quarter. Studio Investment Management LLC now owns 2,929 shares of the technology company’s stock valued at $389,000 after acquiring an additional 164 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Price Performance

NYSE ARW opened at $116.61 on Friday. The business’s fifty day moving average is $116.90 and its two-hundred day moving average is $123.82. The stock has a market capitalization of $6.13 billion, a P/E ratio of 13.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 earnings per share. On average, research analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Raymond James decreased their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial dropped their price target 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.

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.