Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Lind Value II ApS

Lind Value II ApS lowered its holdings in Arrow Electronics, Inc. (NYSE:ARW) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 475,968 shares of the technology company’s stock after selling 121,552 shares during the quarter. Arrow Electronics comprises approximately 27.1% of Lind Value II ApS’s investment portfolio, making the stock its 2nd largest holding. Lind Value II ApS owned about 0.89% of Arrow Electronics worth $63,223,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares in the last quarter. Greenhaven Associates Inc. lifted its stake in Arrow Electronics by 1.7% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after acquiring an additional 32,052 shares in the last quarter. Cooke & Bieler LP lifted its stake in Arrow Electronics by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock valued at $226,722,000 after acquiring an additional 56,781 shares in the last quarter. Earnest Partners LLC lifted its stake in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after acquiring an additional 33,051 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after acquiring an additional 1,204,837 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on ARW shares. Truist Financial raised their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price 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, Raymond James lifted their target price on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $130.75.

Arrow Electronics Stock Performance

ARW traded up $1.61 during trading hours on Friday, hitting $130.95. The stock had a trading volume of 244,038 shares, compared to its average volume of 476,868. The company’s fifty day simple moving average is $129.23 and its 200 day simple moving average is $127.23. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $136.93. The stock has a market cap of $6.97 billion, a PE ratio of 10.29 and a beta of 1.26. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter last year, the firm posted $4.37 EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

About Arrow Electronics

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.