Arrow Electronics (NYSE:ARW) Given New $141.00 Price Target at Truist Financial

Arrow Electronics (NYSE:ARW) had its target price lifted by Truist Financial from $124.00 to $141.00 in a research report report published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the technology company’s stock.

Separately, The Goldman Sachs Group increased 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $134.20.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded down $3.18 on Friday, reaching $125.76. The stock had a trading volume of 850,936 shares, compared to its average volume of 465,619. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $136.37. The company has a market cap of $6.69 billion, a P/E ratio of 9.89 and a beta of 1.27. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $125.43 and its two-hundred day moving average is $122.88.

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, topping analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the firm posted $4.37 earnings per share. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. As a group, research analysts anticipate that Arrow Electronics will post 10.34 EPS for the current year.

Insider Activity at Arrow Electronics

In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,469 shares of Arrow Electronics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $130.71, for a total transaction of $192,012.99. Following the transaction, the director now directly owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $132.59, for a total transaction of $396,046.33. Following the transaction, the director now directly owns 102 shares of the company’s stock, valued at $13,524.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Charles Kerin sold 1,469 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $130.71, for a total transaction of $192,012.99. Following the completion of the transaction, the director now owns 1,520 shares in the company, valued at approximately $198,679.20. The disclosure for this sale can be found here. Insiders have sold 5,976 shares of company stock valued at $788,183 over the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after purchasing an additional 82 shares during the last quarter. Two Point Capital Management Inc. grew its holdings in shares of Arrow Electronics by 0.4% in the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 95 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Arrow Electronics by 1.7% in the first quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock worth $806,000 after purchasing an additional 107 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Arrow Electronics by 2.4% in the first quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock worth $598,000 after purchasing an additional 108 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in shares of Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

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.