Tectonic Advisors LLC Boosts Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Tectonic Advisors LLC lifted its stake in Arrow Electronics, Inc. (NYSE:ARW) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,513 shares of the technology company’s stock after buying an additional 200 shares during the period. Tectonic Advisors LLC’s holdings in Arrow Electronics were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in Arrow Electronics by 794.6% in the 2nd 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. increased its stake in shares of 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 buying an additional 150 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Arrow Electronics during the 1st quarter valued at $81,000. GAMMA Investing LLC boosted its position in Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after buying an additional 137 shares during the period. Finally, Quarry LP purchased a new stake in Arrow Electronics during the 2nd quarter valued at $107,000. Institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Raymond James lifted 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, Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $130.75.

Arrow Electronics Trading Down 1.1 %

Arrow Electronics stock opened at $132.39 on Friday. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.39. The business’s fifty day moving average is $131.56 and its 200 day moving average is $128.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The stock has a market capitalization of $7.05 billion, a PE ratio of 10.41 and a beta of 1.26.

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 analysts’ consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 EPS. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.74 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.