6,300 Shares in Arrow Electronics, Inc. (NYSE:ARW) Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,300 shares of the technology company’s stock, valued at approximately $761,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ARW. Crossmark Global Holdings Inc. raised its position in Arrow Electronics by 20.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,664 shares of the technology company’s stock worth $563,000 after purchasing an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Arrow Electronics by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,792 shares of the technology company’s stock worth $1,303,000 after acquiring an additional 646 shares during the last quarter. Meixler Investment Management Ltd. boosted its holdings in Arrow Electronics by 7.7% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock valued at $207,000 after acquiring an additional 122 shares during the period. Bank of New York Mellon Corp grew its position in Arrow Electronics by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 566,984 shares of the technology company’s stock valued at $68,469,000 after acquiring an additional 30,786 shares during the last quarter. Finally, Lind Value II ApS increased its stake in Arrow Electronics by 15.5% in the second quarter. Lind Value II ApS now owns 597,520 shares of the technology company’s stock worth $72,157,000 after purchasing an additional 80,379 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

ARW opened at $135.08 on Tuesday. The firm has a fifty day moving average price of $125.36 and a 200 day moving average price of $125.48. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The stock has a market cap of $7.15 billion, a P/E ratio of 10.62 and a beta of 1.27. 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 (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target 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. Wells Fargo & Company boosted their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Truist Financial lifted their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Raymond James raised their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $130.75.

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.