Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its position in Arrow Electronics, Inc. (NYSE:ARW) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,878 shares of the technology company’s stock after selling 3,667 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Arrow Electronics were worth $1,976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of 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 valued at $3,421,000 after purchasing an additional 82 shares in the last quarter. Two Point Capital Management Inc. grew its stake 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 acquiring an additional 95 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of Arrow Electronics by 2.8% during the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock worth $521,000 after acquiring an additional 108 shares during the period. SummerHaven Investment Management LLC raised its stake 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 valued at $626,000 after acquiring an additional 117 shares in the last quarter. Finally, Meixler Investment Management Ltd. boosted its holdings in Arrow Electronics by 7.7% in the second quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock valued at $207,000 after purchasing an additional 122 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Performance

NYSE ARW opened at $121.68 on Tuesday. The business’s 50-day moving average price is $127.74 and its 200 day moving average price is $127.35. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.40 billion, a P/E ratio of 13.58 and a beta of 1.27. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

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

Analysts Set New Price Targets

A number of analysts have weighed in on ARW shares. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Truist Financial decreased their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Raymond James reduced their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.25.

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.