Quent Capital LLC Raises Stake in Arrow Electronics, Inc. (NYSE:ARW)

Quent Capital LLC raised its stake in Arrow Electronics, Inc. (NYSE:ARW) by 45.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,246 shares of the technology company’s stock after buying an additional 387 shares during the period. Quent Capital LLC’s holdings in Arrow Electronics were worth $141,000 at the end of the most recent quarter.

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

Arrow Electronics Price Performance

ARW opened at $106.88 on Thursday. The stock’s 50-day moving average price is $115.21 and its 200 day moving average price is $123.10. Arrow Electronics, Inc. has a 12-month low of $105.00 and a 12-month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 14.68 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 12.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James lowered 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. Truist Financial lowered 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. Bank of America cut Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.25.

About Arrow Electronics

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.