Brooklyn Investment Group Purchases New Shares in Arrow Electronics, Inc. (NYSE:ARW)

Brooklyn Investment Group purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the 3rd quarter, HoldingsChannel reports. The firm purchased 302 shares of the technology company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARW. Price T Rowe Associates Inc. MD lifted its holdings in Arrow Electronics by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company’s stock valued at $3,795,000 after purchasing an additional 1,381 shares in the last quarter. Tidal Investments LLC lifted its holdings in Arrow Electronics by 124.1% during the first quarter. Tidal Investments LLC now owns 12,644 shares of the technology company’s stock valued at $1,637,000 after purchasing an additional 7,002 shares in the last quarter. Cetera Advisors LLC purchased a new position in Arrow Electronics during the first quarter valued at $235,000. DekaBank Deutsche Girozentrale purchased a new position in Arrow Electronics during the first quarter valued at $81,000. Finally, Versant Capital Management Inc lifted its holdings in Arrow Electronics by 794.6% during the second 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. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial decreased 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 note on Friday, November 1st. Finally, Wells Fargo & Company raised their price target 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 analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Stock Performance

NYSE:ARW opened at $120.30 on Friday. The company’s 50-day moving average price is $126.96 and its 200-day moving average price is $127.18. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.33 billion, a P/E ratio of 13.43 and a beta of 1.27. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $137.80.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the business earned $4.14 earnings per share. Arrow Electronics’s revenue was down 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.23 earnings per share 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.