Arrow Electronics (NYSE:ARW) Price Target Increased to $132.00 by Analysts at The Goldman Sachs Group

Arrow Electronics (NYSE:ARW) had its price target upped by The Goldman Sachs Group from $116.00 to $132.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Truist Financial cut their price objective on Arrow Electronics from $128.00 to $124.00 and set a hold rating on the stock in a report on Friday, February 9th.

Arrow Electronics Stock Down 2.4 %

Shares of Arrow Electronics stock opened at $130.44 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.94 billion, a P/E ratio of 10.25 and a beta of 1.39. The firm’s 50 day moving average price is $126.41 and its 200-day moving average price is $121.06. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $147.42.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.04. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.08 billion. During the same period in the previous year, the business earned $4.60 EPS. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, sell-side analysts predict that Arrow Electronics will post 10.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard John Marano sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the transaction, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the transaction, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gail Hamilton sold 2,987 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the sale, the director now directly owns 102 shares of the company’s stock, valued at $13,524.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,851 shares of company stock worth $990,228. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARW. Vinva Investment Management Ltd boosted its position in shares of Arrow Electronics by 4.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 1,888 shares of the technology company’s stock worth $243,000 after purchasing an additional 85 shares during the period. QRG Capital Management Inc. grew its stake 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 valued at $806,000 after buying an additional 107 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Arrow Electronics by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after buying an additional 108 shares during the period. Strs Ohio lifted its stake in Arrow Electronics by 0.6% during the 4th quarter. Strs Ohio now owns 18,681 shares of the technology company’s stock worth $2,283,000 after acquiring an additional 120 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Arrow Electronics by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,302 shares of the technology company’s stock valued at $288,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.