Dynamic Technology Lab Private Ltd Reduces Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Dynamic Technology Lab Private Ltd lowered its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 19.8% during the third quarter, Holdings Channel reports. The fund owned 14,878 shares of the technology company’s stock after selling 3,667 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Arrow Electronics were worth $1,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC boosted its stake in shares of Arrow Electronics by 2.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock worth $521,000 after purchasing an additional 108 shares during the last quarter. English Capital Management LLC boosted its position in Arrow Electronics by 2.8% during the third quarter. English Capital Management LLC now owns 71,927 shares of the technology company’s stock worth $9,554,000 after acquiring an additional 1,950 shares during the last quarter. Cerity Partners LLC grew its stake in Arrow Electronics by 140.4% in the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock worth $1,598,000 after acquiring an additional 7,028 shares during the period. Studio Investment Management LLC grew its stake in Arrow Electronics by 5.9% in the 3rd quarter. Studio Investment Management LLC now owns 2,929 shares of the technology company’s stock worth $389,000 after acquiring an additional 164 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Arrow Electronics by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,936 shares of the technology company’s stock valued at $64,281,000 after acquiring an additional 10,340 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Up 2.0 %

Shares of NYSE ARW opened at $121.68 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 stock has a market capitalization of $6.40 billion, a PE ratio of 13.58 and a beta of 1.27. The firm has a fifty day moving average of $127.74 and a 200-day moving average of $127.35. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The firm had revenue of $6.82 billion during 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 firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.14 earnings per share. On average, analysts anticipate that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James decreased their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Arrow Electronics 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.