Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Oldfield Partners LLP

Oldfield Partners LLP cut its holdings in shares of Arrow Electronics, Inc. (NYSE:ARW) by 24.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 337,900 shares of the technology company’s stock after selling 112,300 shares during the quarter. Arrow Electronics accounts for about 11.1% of Oldfield Partners LLP’s portfolio, making the stock its 5th biggest holding. Oldfield Partners LLP’s holdings in Arrow Electronics were worth $38,223,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Summit Trail Advisors LLC boosted its stake in Arrow Electronics by 2.8% in the third 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 in the last quarter. Creative Planning boosted its stake in Arrow Electronics by 1.1% in the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after purchasing an additional 123 shares in the last quarter. Covestor Ltd boosted its stake in Arrow Electronics by 14.0% in the third quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC boosted its stake in Arrow Electronics by 24.6% in the third 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, Foundations Investment Advisors LLC lifted its stake in shares of Arrow Electronics by 9.2% during the third quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock valued at $240,000 after acquiring an additional 153 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

ARW opened at $117.10 on Wednesday. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 13.03 and a beta of 1.26. The business has a 50 day moving average of $116.89 and a 200-day moving average of $123.96. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data 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 company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations 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 was down 14.8% on a year-over-year basis. During the same period last year, the firm posted $4.14 earnings per share. On average, equities research analysts expect that Arrow Electronics, Inc. will post 10.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARW shares. Raymond James cut their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial cut their target price 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, Wells Fargo & Company cut their target price on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th.

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.