BNP Paribas Financial Markets Sells 31,271 Shares of Arrow Electronics, Inc. (NYSE:ARW)

BNP Paribas Financial Markets trimmed its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 18.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 141,173 shares of the technology company’s stock after selling 31,271 shares during the quarter. BNP Paribas Financial Markets owned about 0.27% of Arrow Electronics worth $18,752,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Arrow Electronics by 0.3% during the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after buying an additional 82 shares during the last quarter. Two Point Capital Management Inc. raised its holdings in Arrow Electronics by 0.4% during the 2nd quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 95 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Arrow Electronics by 2.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after purchasing an additional 108 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after buying an additional 117 shares during the period. Finally, Meixler Investment Management Ltd. boosted its position in Arrow Electronics by 7.7% during the second quarter. Meixler Investment Management Ltd. now owns 1,716 shares of the technology company’s stock valued at $207,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ARW shares. Truist Financial decreased their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James reduced their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.25.

Arrow Electronics Trading Up 0.6 %

NYSE ARW opened at $120.16 on Friday. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. The business has a 50 day moving average price of $126.73 and a 200-day moving average price of $127.12. 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 company has a market cap of $6.32 billion, a price-to-earnings ratio of 13.43 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last released 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 business 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 company’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.14 EPS. As a group, equities analysts expect 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.