Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its position in Arrow Electronics, Inc. (NYSE:ARW) by 46.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,792 shares of the technology company’s stock after selling 5,024 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Arrow Electronics were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of Arrow Electronics by 1.7% during the first quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock worth $806,000 after buying an additional 107 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Arrow Electronics by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock worth $598,000 after purchasing an additional 108 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Arrow Electronics by 17.1% in the 4th quarter. Johnson Financial Group Inc. now owns 937 shares of the technology company’s stock valued at $115,000 after purchasing an additional 137 shares in the last quarter. Covestor Ltd lifted its position in shares of Arrow Electronics by 16.9% during the first quarter. Covestor Ltd now owns 1,026 shares of the technology company’s stock worth $133,000 after purchasing an additional 148 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after purchasing an additional 150 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARW has been the topic of several research reports. The Goldman Sachs Group upped their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Raymond James boosted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price target 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Arrow Electronics presently has an average rating of “Hold” and an average price target of $130.75.

Arrow Electronics Trading Up 2.2 %

NYSE:ARW opened at $131.84 on Thursday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 10.36 and a beta of 1.27. The business has a 50 day simple moving average of $124.39 and a 200 day simple moving average of $124.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $135.31.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities research analysts predict that Arrow Electronics, Inc. will post 10.34 EPS for the current year.

Arrow Electronics Company 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.