Assetmark Inc. Trims Position in Arrow Electronics, Inc. (NYSE:ARW)

Assetmark Inc. lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,084 shares of the technology company’s stock after selling 192 shares during the period. Assetmark Inc.’s holdings in Arrow Electronics were worth $1,472,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ARW. Capital Performance Advisors LLP acquired a new position in Arrow Electronics during the third quarter worth approximately $73,000. Two Point Capital Management Inc. increased its holdings in shares of Arrow Electronics by 1.6% during the 3rd quarter. Two Point Capital Management Inc. now owns 21,919 shares of the technology company’s stock worth $2,912,000 after buying an additional 335 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Arrow Electronics by 6.4% in the 3rd quarter. QRG Capital Management Inc. now owns 7,421 shares of the technology company’s stock worth $986,000 after buying an additional 445 shares during the period. Innealta Capital LLC boosted its holdings in Arrow Electronics by 23.0% in the third quarter. Innealta Capital LLC now owns 1,714 shares of the technology company’s stock valued at $228,000 after acquiring an additional 321 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Arrow Electronics by 39.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 42,641 shares of the technology company’s stock valued at $5,664,000 after acquiring an additional 12,159 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

Shares of NYSE:ARW opened at $115.18 on Friday. 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. The business’s 50-day simple moving average is $128.84 and its 200 day simple moving average is $127.78. The company has a market cap of $6.06 billion, a P/E ratio of 12.85 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results 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. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the business earned $4.14 EPS. The business’s revenue was down 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ARW. Raymond James cut their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial reduced their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. 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. According to data from MarketBeat, the stock currently has a consensus 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.