Fifth Third Bancorp lowered its stake in Arrow Electronics, Inc. (NYSE:ARW – Free 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.
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:ARW – Get 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
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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