Brooklyn Investment Group Buys New Stake in Arrow Electronics, Inc. (NYSE:ARW)

Brooklyn Investment Group bought a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 302 shares of the technology company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after purchasing an additional 325,122 shares in the last quarter. Pacer Advisors Inc. increased its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. increased its stake in Arrow Electronics by 1.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares in the last quarter. Cooke & Bieler LP increased its stake in Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after purchasing an additional 56,781 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after purchasing an additional 33,051 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the topic of a number of recent analyst reports. Raymond James cut their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective 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. Finally, Truist Financial cut their price objective 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. One equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Stock Up 0.8 %

NYSE:ARW opened at $120.30 on Friday. The firm has a market capitalization of $6.33 billion, a P/E ratio of 13.43 and a beta of 1.27. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80. The company’s fifty day moving average price is $126.96 and its 200-day moving average price is $127.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The firm had revenue of $6.82 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.14 earnings per share. As a group, equities research analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

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.