EP Wealth Advisors LLC Purchases Shares of 1,614 Arrow Electronics, Inc. (NYSE:ARW)

EP Wealth Advisors LLC purchased a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 1,614 shares of the technology company’s stock, valued at approximately $214,000.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Arrow Electronics in the 3rd quarter worth about $31,000. Brooklyn Investment Group purchased a new position in shares of Arrow Electronics during the 3rd quarter worth about $40,000. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics during the 3rd quarter worth about $73,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics during the 3rd quarter worth about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arrow Electronics during the 3rd quarter worth about $88,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Trading Down 1.4 %

NYSE ARW opened at $120.30 on Friday. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company’s 50 day moving average price is $124.58 and its 200 day moving average price is $126.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 13.43 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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 report on Friday, November 1st. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

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.