TD Asset Management Inc cut its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,104 shares of the technology company’s stock after selling 170 shares during the period. TD Asset Management Inc’s holdings in Arrow Electronics were worth $514,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ARW. Legacy Financial Group LLC acquired a new position in shares of Arrow Electronics in the 3rd quarter valued at approximately $25,000. SouthState Corp acquired a new position in shares of Arrow Electronics in the 2nd quarter valued at approximately $32,000. IFP Advisors Inc raised its position in shares of Arrow Electronics by 33.0% in the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Arrow Electronics in the 1st quarter valued at approximately $52,000. Finally, Gladius Capital Management LP increased its holdings in shares of Arrow Electronics by 27.1% in the 3rd quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock valued at $55,000 after acquiring an additional 94 shares during the last quarter. 94.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $133.67.
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Arrow Electronics Price Performance
Shares of ARW opened at $116.94 on Tuesday. The company has a market cap of $6.33 billion, a P/E ratio of 6.53 and a beta of 1.40. The stock has a fifty day moving average price of $120.11 and a 200 day moving average price of $124.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.96. Arrow Electronics, Inc. has a 12 month low of $109.54 and a 12 month high of $147.42.
Arrow Electronics (NYSE:ARW – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $4.14 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.09 billion. On average, research analysts forecast that Arrow Electronics, Inc. will post 16.81 earnings per share for the current year.
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.
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