Clark Estates Inc. NY Sells 2,200 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Clark Estates Inc. NY decreased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,200 shares of the technology company’s stock after selling 2,200 shares during the quarter. Clark Estates Inc. NY owned approximately 0.05% of Arrow Electronics worth $3,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARW. Pacer Advisors Inc. increased its position in shares of Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after acquiring an additional 876,396 shares during the period. SG Americas Securities LLC purchased a new position in Arrow Electronics during the 2nd quarter worth $938,000. Tidal Investments LLC raised its position in Arrow Electronics by 124.1% during the 1st quarter. Tidal Investments LLC now owns 12,644 shares of the technology company’s stock valued at $1,637,000 after purchasing an additional 7,002 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Arrow Electronics in the 2nd quarter worth $1,267,000. Finally, Texas Permanent School Fund Corp grew its position in shares of Arrow Electronics by 33.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 63,021 shares of the technology company’s stock worth $7,610,000 after buying an additional 15,926 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Down 0.7 %

NYSE:ARW opened at $120.87 on Wednesday. The firm has a 50 day moving average of $127.63 and a 200 day moving average of $127.32. 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 52 week low of $108.51 and a 52 week high of $137.80. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 13.49 and a beta of 1.27.

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, 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 firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the firm earned $4.14 EPS. The business’s quarterly revenue was down 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ARW. Wells Fargo & Company upped their price target 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. Truist Financial lowered their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Raymond James cut their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.25.

About Arrow Electronics

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.