Arrow Electronics (NYSE:ARW) PT Raised to $140.00 at Raymond James

Arrow Electronics (NYSE:ARW) had its price objective raised by Raymond James from $135.00 to $140.00 in a research note published on Friday, Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

ARW has been the topic of a number of other reports. The Goldman Sachs Group boosted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a neutral rating in a report on Tuesday, May 28th. Truist Financial raised their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a hold rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $134.20.

Arrow Electronics Price Performance

ARW stock opened at $124.85 on Friday. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 9.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a 50 day moving average price of $125.43 and a 200-day moving average price of $122.99. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $135.31.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. 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 company posted $4.37 EPS. The company’s revenue was down 19.0% compared to the same quarter last year. Equities research analysts forecast that Arrow Electronics will post 10.34 EPS for the current fiscal year.

Insider Activity

In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,469 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $130.71, for a total transaction of $192,012.99. Following the completion of the transaction, the director now owns 1,520 shares in the company, valued at approximately $198,679.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now owns 102 shares in the company, valued at $13,524.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Charles Kerin sold 1,469 shares of Arrow Electronics stock in a transaction on Friday, May 17th. The stock was sold at an average price of $130.71, for a total transaction of $192,012.99. Following the completion of the sale, the director now owns 1,520 shares of the company’s stock, valued at approximately $198,679.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,976 shares of company stock worth $788,183. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Arrow Electronics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after buying an additional 150 shares during the period. Principal Securities Inc. bought a new position in shares of Arrow Electronics during the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC bought a new position in shares of Arrow Electronics during the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.