Fifth Third Bancorp Has $2.64 Million Stake in Arrow Electronics, Inc. (NYSE:ARW)

Fifth Third Bancorp reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 15.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,310 shares of the technology company’s stock after selling 4,397 shares during the quarter. Fifth Third Bancorp’s holdings in Arrow Electronics were worth $2,637,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ARW. Creative Planning boosted its position in Arrow Electronics by 6.0% during the 2nd quarter. Creative Planning now owns 11,066 shares of the technology company’s stock worth $1,336,000 after acquiring an additional 630 shares during the last quarter. Quarry LP acquired a new position in Arrow Electronics during the second quarter worth $107,000. Brandes Investment Partners LP grew its position in Arrow Electronics by 4.5% in the second quarter. Brandes Investment Partners LP now owns 21,982 shares of the technology company’s stock valued at $2,654,000 after purchasing an additional 945 shares in the last quarter. Truist Financial Corp lifted its position in Arrow Electronics by 6.8% during the 2nd quarter. Truist Financial Corp now owns 11,028 shares of the technology company’s stock worth $1,332,000 after buying an additional 700 shares in the last quarter. Finally, Delphi Management Inc. MA boosted its stake in shares of Arrow Electronics by 1.6% during the 2nd quarter. Delphi Management Inc. MA now owns 11,553 shares of the technology company’s stock worth $1,395,000 after buying an additional 182 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ARW. Wells Fargo & Company lowered their target price on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Raymond James decreased their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $116.21 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $116.82 and its two-hundred day moving average price is $124.00. The company has a market cap of $6.11 billion, a PE ratio of 12.97 and a beta of 1.26. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping 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 business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the firm earned $4.14 EPS. The firm’s revenue was down 14.8% compared to the same quarter last year. On average, analysts predict that Arrow Electronics, Inc. will post 10.26 EPS for the current year.

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.