Paloma Partners Management Co Purchases New Position in Arrow Electronics, Inc. (NYSE:ARW)

Paloma Partners Management Co acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,972 shares of the technology company’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth about $31,000. Brooklyn Investment Group bought a new stake in Arrow Electronics during the third quarter worth about $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Arrow Electronics during the third quarter worth approximately $73,000. DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics in the third quarter valued at approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arrow Electronics in the 3rd quarter worth approximately $88,000. 99.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Raymond James cut their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Stock Down 1.0 %

Shares of ARW opened at $119.36 on Friday. The business’s fifty day moving average price is $125.80 and its two-hundred day moving average price is $126.86. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 13.32 and a beta of 1.26. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.14 earnings per share. On average, analysts predict that Arrow Electronics, Inc. will post 10.23 earnings per share for the current 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.