Friday, December 13, 2024
spot_img
HomeGADGETSELECTRONICSFifth Third Bancorp Sells 220 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Fifth Third Bancorp Sells 220 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Fifth Third Bancorp lowered its stake in Arrow Electronics, Inc. (NYSE:ARWFree Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,879 shares of the technology company’s stock after selling 220 shares during the quarter. Fifth Third Bancorp’s holdings in Arrow Electronics were worth $3,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Legacy Financial Group LLC bought a new stake in Arrow Electronics during the 3rd quarter worth approximately $25,000. SouthState Corp purchased a new position in shares of Arrow Electronics during the 2nd quarter valued at $32,000. IFP Advisors Inc boosted its holdings in Arrow Electronics by 33.0% in the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock worth $50,000 after buying an additional 100 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in Arrow Electronics in the 1st quarter worth $52,000. Finally, Gladius Capital Management LP raised its holdings in Arrow Electronics by 27.1% during the third 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 period. 94.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut 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 assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.67.

View Our Latest Analysis on ARW

Arrow Electronics Trading Down 1.1 %

Shares of ARW stock opened at $114.14 on Thursday. The stock’s 50-day moving average price is $120.24 and its 200-day moving average price is $125.59. Arrow Electronics, Inc. has a 12-month low of $109.54 and a 12-month high of $147.42. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 6.37 and a beta of 1.40. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

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

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.

Further Reading

Five stocks we like better than Arrow Electronics
Uptrend Stocks Explained: Learn How to Trade Using Uptrends
Will airline stocks recover? What is the outlook?
How to Invest in Canada for Beginners 
Oil is in contango for the first time since 2021: Best oil stocks
What is the Hang Seng index?  
MAX 9 may not affect Boeing’s earnings; should you buy the dip?

Receive News & Ratings for Arrow Electronics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arrow Electronics and related companies with MarketBeat.com’s FREE daily email newsletter.

 

Post Disclaimer

The information provided in our posts or blogs are for educational and informative purposes only. We do not guarantee the accuracy, completeness or suitability of the information. We do not provide financial or investment advice. Readers should always seek professional advice before making any financial or investment decisions based on the information provided in our content. We will not be held responsible for any losses, damages or consequences that may arise from relying on the information provided in our content.

RELATED ARTICLES

Most Popular

Recent Comments

error: Content is protected !!