Bridgewater Associates LP Sells 19,669 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Bridgewater Associates LP lessened its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 23.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,494 shares of the technology company's stock after selling 19,669 shares during the period. Bridgewater Associates LP owned approximately 0.12% of Arrow Electronics worth $8,434,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock worth $40,000 after buying an additional 294 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Arrow Electronics during the 3rd quarter worth $40,000. Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics in the third quarter worth $73,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the third quarter valued at about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Arrow Electronics during the third quarter worth about $88,000. Institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James dropped their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Arrow Electronics has a consensus rating of "Hold" and an average target price of $124.25.

Arrow Electronics Trading Up 0.8 %

ARW traded up $0.91 during trading on Friday, reaching $120.30. 134,199 shares of the company's stock were exchanged, compared to its average volume of 462,048. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics, Inc. has a one year low of $108.51 and a one year high of $137.80. The firm has a fifty day moving average price of $126.96 and a two-hundred day moving average price of $127.18. The stock has a market capitalization of $6.33 billion, a PE ratio of 13.32 and a beta of 1.27.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share 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%. Arrow Electronics's quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.14 earnings per share. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 10.23 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.