Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 19.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,238 shares of the technology company’s stock after selling 3,448 shares during the period. Intech Investment Management LLC’s holdings in Arrow Electronics were worth $1,891,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ARW. Moran Wealth Management LLC acquired a new stake in shares of Arrow Electronics during the third quarter worth about $4,208,000. Ontario Teachers Pension Plan Board lifted its stake in Arrow Electronics by 6.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,962 shares of the technology company’s stock valued at $1,190,000 after acquiring an additional 572 shares during the period. Quest Partners LLC purchased a new stake in shares of Arrow Electronics in the 3rd quarter valued at $204,000. Seizert Capital Partners LLC increased its stake in shares of Arrow Electronics by 147.3% in the third quarter. Seizert Capital Partners LLC now owns 34,346 shares of the technology company’s stock worth $4,562,000 after acquiring an additional 20,455 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Arrow Electronics by 46.6% during the third quarter. Natixis Advisors LLC now owns 211,975 shares of the technology company’s stock worth $28,157,000 after purchasing an additional 67,404 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARW shares. Wells Fargo & Company upped their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Truist Financial dropped 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, Raymond James decreased their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Trading Up 2.0 %

Shares of NYSE:ARW opened at $119.26 on Monday. The business’s 50 day moving average price is $127.74 and its 200-day moving average price is $127.35. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same period last year, the firm posted $4.14 earnings per share. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.29 earnings per share for the current fiscal year.

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.