Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its position in Arrow Electronics, Inc. (NYSE:ARW) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,120 shares of the technology company’s stock after selling 135 shares during the period. Pathstone Holdings LLC’s holdings in Arrow Electronics were worth $2,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARW. Versant Capital Management Inc grew its position in Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after acquiring an additional 294 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Arrow Electronics in the third quarter valued at approximately $73,000. DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics during the 3rd quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arrow Electronics during the 3rd quarter worth approximately $88,000. Finally, GAMMA Investing LLC lifted its holdings in Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Arrow Electronics Stock Performance

NYSE:ARW opened at $120.87 on Wednesday. The firm has a market capitalization of $6.36 billion, a PE ratio of 13.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The business’s fifty day moving average price is $127.63 and its 200 day moving average price is $127.32. Arrow Electronics, Inc. has a 12 month low of $108.51 and a 12 month high of $137.80.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.14 EPS. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current fiscal 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.