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% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 63,494 shares of the technology company’s stock after selling 19,669 shares during the period. Bridgewater Associates LP’s holdings in Arrow Electronics were worth $8,434,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position 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. Brooklyn Investment Group acquired a new position in shares of Arrow Electronics in the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics during the 3rd quarter worth approximately $73,000. DekaBank Deutsche Girozentrale acquired a new stake in Arrow Electronics in the 3rd quarter valued at approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Arrow Electronics during the third quarter worth $88,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Stock Down 1.2 %

Shares of NYSE ARW opened at $119.39 on Friday. The stock has a market cap of $6.28 billion, a P/E ratio of 13.32 and a beta of 1.27. The business’s fifty day simple moving average is $127.25 and its 200-day simple moving average is $127.23. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly 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 company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the company earned $4.14 EPS. Arrow Electronics’s revenue for the quarter was down 14.8% compared to the same quarter last year. As a group, equities analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARW shares. Wells Fargo & Company lifted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Truist Financial dropped their target price 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 reduced their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research 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, the stock has a consensus rating of “Hold” and a consensus target price of $124.25.

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.