Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,300 shares of the technology company’s stock after selling 7,682 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.56% of Arrow Electronics worth $36,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Arrow Electronics during the 1st quarter worth $32,000. Versant Capital Management Inc increased its holdings in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after buying an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Arrow Electronics by 76.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares in the last quarter. Principal Securities Inc. bought a new position in Arrow Electronics during the 4th quarter worth approximately $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics in the 1st quarter worth approximately $81,000. Institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

ARW stock opened at $124.35 on Friday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 9.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The stock’s fifty day moving average is $126.45 and its two-hundred day moving average is $126.02.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same period in the previous year, the business posted $4.37 EPS. Arrow Electronics’s revenue was down 19.0% on a year-over-year basis. On average, research analysts predict that Arrow Electronics, Inc. will post 10.74 EPS for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of several research reports. The Goldman Sachs Group upped their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Wells Fargo & Company raised 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. Raymond James lifted their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $130.75.

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.