Amalgamated Bank Has $3.36 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Amalgamated Bank lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 24.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,255 shares of the technology company’s stock after selling 8,213 shares during the quarter. Amalgamated Bank’s holdings in Arrow Electronics were worth $3,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARW. Versant Capital Management Inc lifted its stake in shares of Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after buying an additional 294 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth about $78,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth about $88,000. GAMMA Investing LLC raised its stake in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares in the last quarter. Finally, Quarry LP bought a new stake in Arrow Electronics in the 2nd quarter valued at about $107,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $120.20 on Friday. The company has a 50 day moving average of $129.96 and a 200-day moving average of $128.10. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.32 billion, a PE ratio of 13.42 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its quarterly 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 net margin of 1.71% and a return on equity of 10.71%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the firm posted $4.14 EPS. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 10.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial cut their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $124.25.

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.