BNP Paribas Financial Markets Sells 31,271 Shares of Arrow Electronics, Inc. (NYSE:ARW)

BNP Paribas Financial Markets lessened its holdings in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,173 shares of the technology company's stock after selling 31,271 shares during the quarter. BNP Paribas Financial Markets owned 0.27% of Arrow Electronics worth $18,752,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Arrow Electronics by 13.4% in the second 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 during the period. Pacer Advisors Inc. lifted 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 purchasing an additional 876,396 shares during the period. Greenhaven Associates Inc. lifted its position in Arrow Electronics by 1.7% during the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company's stock worth $227,377,000 after purchasing an additional 32,052 shares during the period. Cooke & Bieler LP lifted its position in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company's stock worth $226,722,000 after purchasing an additional 56,781 shares during the period. Finally, Earnest Partners LLC lifted its position in Arrow Electronics by 2.4% during the second quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company's stock worth $169,979,000 after purchasing an additional 33,051 shares during the period. Institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

ARW has been the subject of several recent analyst reports. Raymond James cut their price objective 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 dropped their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $124.25.

Arrow Electronics Trading Up 0.6 %

Shares of Arrow Electronics stock traded up $0.77 on Friday, hitting $120.16. The stock had a trading volume of 134,199 shares, compared to its average volume of 413,267. The stock has a 50 day moving average of $126.73 and a 200 day moving average of $127.10. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month 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 firm has a market capitalization of $6.32 billion, a P/E ratio of 13.41 and a beta of 1.27.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results 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 net margin of 1.71% and a return on equity of 10.71%. The company's revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.14 EPS. Sell-side analysts expect 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.