Assenagon Asset Management S.A. Sells 144,516 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Assenagon Asset Management S.A. reduced its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,561 shares of the technology company's stock after selling 144,516 shares during the quarter. Assenagon Asset Management S.A. owned about 0.42% of Arrow Electronics worth $24,837,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company's stock worth $278,220,000 after buying an additional 876,396 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Arrow Electronics by 1,072.6% during the third quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company's stock worth $5,564,000 after purchasing an additional 37,746 shares in the last quarter. Cerity Partners LLC increased its position in shares of Arrow Electronics by 140.4% in the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company's stock worth $1,598,000 after purchasing an additional 7,028 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Arrow Electronics in the second quarter valued at approximately $1,267,000. Finally, JPMorgan Chase & Co. raised its stake in Arrow Electronics by 115.0% in the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company's stock valued at $41,948,000 after purchasing an additional 168,904 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ARW. Truist Financial decreased their price target 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. Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company dropped their price target on Arrow Electronics from $105.00 to $100.00 and set an "underweight" rating for the company in a research note on Monday.

Arrow Electronics Trading Up 1.4 %

Shares of Arrow Electronics stock traded up $1.66 during trading on Friday, reaching $116.63. The company's stock had a trading volume of 348,861 shares, compared to its average volume of 389,251. 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 $6.13 billion, a price-to-earnings ratio of 13.02 and a beta of 1.26. The firm's 50-day moving average is $116.61 and its two-hundred day moving average is $123.99. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the business earned $4.14 earnings per share. The company's quarterly revenue was down 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Arrow Electronics, Inc. will post 10.23 earnings per share for the current 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.