Foster & Motley Inc. Reduces Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Foster & Motley Inc. reduced its position in Arrow Electronics, Inc. (NYSE:ARW) by 9.5% in the 4th quarter, Holdings Channel reports. The fund owned 11,480 shares of the technology company’s stock after selling 1,208 shares during the period. Foster & Motley Inc.’s holdings in Arrow Electronics were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC grew its stake in Arrow Electronics by 2.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock worth $521,000 after acquiring an additional 108 shares during the period. Creative Planning grew its stake in Arrow Electronics by 1.1% in the 3rd quarter. Creative Planning now owns 11,189 shares of the technology company’s stock worth $1,486,000 after acquiring an additional 123 shares during the period. Covestor Ltd grew its stake in Arrow Electronics by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after acquiring an additional 131 shares during the period. GAMMA Investing LLC grew 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 acquiring an additional 137 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in Arrow Electronics by 9.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,810 shares of the technology company’s stock worth $240,000 after acquiring an additional 153 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARW has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Raymond James reduced their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial reduced their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $117.03 on Friday. The firm has a market cap of $6.15 billion, a PE ratio of 13.06 and a beta of 1.26. The firm’s 50-day simple moving average is $116.95 and its 200-day simple moving average is $123.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its 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 for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’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. Equities analysts forecast that Arrow Electronics, Inc. will post 10.26 earnings per share for the current fiscal year.

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.