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HomeGADGETSELECTRONICSArrow Electronics, Inc. (NYSE:ARW) Shares Sold by Allspring Global Investments Holdings LLC

Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Arrow Electronics, Inc. (NYSE:ARWFree Report) by 6.5% during the third quarter, Holdings Channel.com reports. The firm owned 77,614 shares of the technology company’s stock after selling 5,411 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arrow Electronics were worth $9,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ARW. Panagora Asset Management Inc. raised its position in Arrow Electronics by 12.3% in the 1st quarter. Panagora Asset Management Inc. now owns 3,478 shares of the technology company’s stock valued at $413,000 after purchasing an additional 380 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Arrow Electronics during the 1st quarter worth about $273,000. Prudential PLC acquired a new stake in shares of Arrow Electronics during the 1st quarter worth about $302,000. Cetera Investment Advisers acquired a new stake in shares of Arrow Electronics during the 1st quarter worth about $275,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Arrow Electronics during the 1st quarter worth about $52,000. Institutional investors and hedge funds own 94.79% of the company’s stock.

Arrow Electronics Trading Up 2.1 %

ARW opened at $116.54 on Friday. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 6.51 and a beta of 1.40. Arrow Electronics, Inc. has a 52 week low of $109.54 and a 52 week high of $147.42. The business’s 50 day moving average is $120.23 and its two-hundred day moving average is $125.53. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Arrow Electronics (NYSE:ARWGet Free Report) last announced its earnings results on Thursday, November 2nd. The technology company reported $4.14 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.66. Arrow Electronics had a return on equity of 19.78% and a net margin of 3.06%. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $8.09 billion. On average, research analysts predict that Arrow Electronics, Inc. will post 16.81 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $133.67.

Get Our Latest Stock Report on Arrow Electronics

Arrow Electronics Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARWFree Report).

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