Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 23.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,494 shares of the technology company’s stock after selling 19,669 shares during the period. Bridgewater Associates LP owned about 0.12% of Arrow Electronics worth $8,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock valued at $3,421,000 after buying an additional 82 shares in the last quarter. Two Point Capital Management Inc. raised its position in Arrow Electronics by 0.4% during the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after acquiring an additional 95 shares during the period. Summit Trail Advisors LLC lifted its holdings in Arrow Electronics by 2.8% during the third quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after purchasing an additional 108 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after purchasing an additional 117 shares during the period. Finally, Meixler Investment Management Ltd. raised its position in shares of Arrow Electronics by 7.7% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock worth $207,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Price Performance

ARW stock opened at $119.39 on Friday. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The firm has a market capitalization of $6.28 billion, a PE ratio of 13.32 and a beta of 1.27. The business has a 50 day simple moving average of $127.25 and a 200-day simple moving average of $127.23.

Arrow Electronics (NYSE:ARW) last issued its earnings results 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. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the business earned $4.14 EPS. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARW has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.