Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Burney Co.

Burney Co. cut its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,470 shares of the technology company’s stock after selling 158 shares during the period. Burney Co.’s holdings in Arrow Electronics were worth $540,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Arrow Electronics in the 1st quarter valued at $32,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 acquiring an additional 150 shares during the last quarter. Principal Securities Inc. acquired a new position in Arrow Electronics in the 4th quarter valued at $56,000. Finally, GAMMA Investing LLC acquired a new position in Arrow Electronics in the 4th quarter valued at $58,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on ARW shares. Raymond James upped their price objective on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Wells Fargo & Company lifted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their target price on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Stock Up 1.3 %

NYSE:ARW traded up $1.78 during mid-day trading on Thursday, hitting $135.39. The company had a trading volume of 180,636 shares, compared to its average volume of 486,165. The business has a fifty day simple moving average of $124.83 and a 200-day simple moving average of $124.91. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 10.71 and a beta of 1.27. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The business had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.37 earnings per share. Equities analysts forecast that Arrow Electronics, Inc. will post 10.34 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.