Mutual Advisors LLC Sells 202 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Mutual Advisors LLC cut its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,990 shares of the technology company’s stock after selling 202 shares during the quarter. Mutual Advisors LLC’s holdings in Arrow Electronics were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARW. Pacer Advisors Inc. increased its position in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after acquiring an additional 1,204,837 shares during the last quarter. Boston Partners grew its stake in shares of Arrow Electronics by 108.5% during the 1st quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock valued at $129,622,000 after purchasing an additional 521,117 shares during the period. Lind Value II ApS purchased a new stake in shares of Arrow Electronics during the 1st quarter valued at about $66,949,000. Dimensional Fund Advisors LP lifted its stake in shares of Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after purchasing an additional 325,122 shares during the period. Finally, Loews Corp purchased a new position in shares of Arrow Electronics in the first quarter worth approximately $25,892,000. 99.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARW shares. Wells Fargo & Company increased 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 decreased their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Truist Financial cut their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Stock Up 2.0 %

ARW opened at $121.08 on Friday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 11.41 and a beta of 1.26. 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 firm’s fifty day moving average is $131.57 and its 200 day moving average is $128.16. Arrow Electronics, Inc. has a fifty-two week low of $108.51 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW) last released 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. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.14 earnings per share. On average, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Arrow Electronics 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.