Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Arrow Electronics, Inc. (NYSE:ARW) by 39.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 219,561 shares of the technology company’s stock after selling 144,516 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Arrow Electronics were worth $24,837,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARW. Lind Value II ApS grew its position in shares of Arrow Electronics by 36.3% in the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after purchasing an additional 172,669 shares during the period. GAMMA Investing LLC lifted its stake in Arrow Electronics by 24.0% in the 4th quarter. GAMMA Investing LLC now owns 862 shares of the technology company’s stock valued at $98,000 after buying an additional 167 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after buying an additional 168,904 shares during the last quarter. Franklin Resources Inc. increased its stake in Arrow Electronics by 1,072.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock worth $5,564,000 after buying an additional 37,746 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of Arrow Electronics by 2.8% during the third quarter. Peapack Gladstone Financial Corp now owns 46,664 shares of the technology company’s stock valued at $6,198,000 after acquiring an additional 1,251 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARW. Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday. Finally, Raymond James decreased their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

Arrow Electronics Price Performance

NYSE:ARW opened at $115.02 on Friday. The stock has a 50 day moving average price of $116.61 and a 200 day moving average price of $123.99. The stock has a market cap of $6.05 billion, a PE ratio of 12.84 and a beta of 1.26. 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, Inc. has a one year low of $108.51 and a one year high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the company earned $4.14 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Equities research analysts expect that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal 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.