Fifth Third Bancorp Sells 4,397 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Fifth Third Bancorp lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARWFree Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,310 shares of the technology company’s stock after selling 4,397 shares during the quarter. Fifth Third Bancorp’s holdings in Arrow Electronics were worth $2,637,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ARW. True Wealth Design LLC bought a new stake in Arrow Electronics during the 3rd quarter worth about $31,000. Brooklyn Investment Group bought a new stake in shares of Arrow Electronics during the third quarter worth approximately $40,000. Capital Performance Advisors LLP bought a new stake in shares of Arrow Electronics during the third quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the third quarter valued at approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Arrow Electronics in the third quarter valued at approximately $88,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ARW shares. 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 research report on Monday, January 13th. Raymond James cut their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st.

Check Out Our Latest Report on ARW

Arrow Electronics Price Performance

Shares of ARW stock opened at $116.21 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The firm has a fifty day moving average of $116.82 and a 200-day moving average of $124.00. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 12.97 and a beta of 1.26.

Arrow Electronics (NYSE:ARWGet Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. The company’s revenue was down 14.8% on a year-over-year basis. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current year.

About Arrow Electronics

(Free Report)

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.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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