Thrivent Financial for Lutherans Decreases Position in Arrow Electronics, Inc. (NYSE:ARW)

Thrivent Financial for Lutherans reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,439 shares of the technology company’s stock after selling 422 shares during the period. Thrivent Financial for Lutherans’ holdings in Arrow Electronics were worth $1,652,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Arrow Electronics by 0.3% during the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock worth $3,421,000 after purchasing an additional 82 shares in the last quarter. Two Point Capital Management Inc. raised its position in shares of Arrow Electronics by 0.4% in the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock valued at $2,606,000 after buying an additional 95 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after buying an additional 117 shares in the last quarter. 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 worth $207,000 after acquiring an additional 122 shares during the last quarter. Finally, Creative Planning grew its stake in Arrow Electronics by 1.1% during the 3rd quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.8 %

ARW opened at $120.30 on Friday. The stock has a market capitalization of $6.33 billion, a PE ratio of 13.32 and a beta of 1.27. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The business’s 50 day moving average price is $126.96 and its 200 day moving average price is $127.18.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate 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 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 prior year, the company posted $4.14 EPS. As a group, equities research analysts expect that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ARW. Raymond James decreased their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. 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 note on Friday, August 2nd. Finally, Truist Financial dropped their target price 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 issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.25.

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.