Centiva Capital LP Sells 7,925 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Centiva Capital LP lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 62.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,728 shares of the technology company's stock after selling 7,925 shares during the period. Centiva Capital LP's holdings in Arrow Electronics were worth $628,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ARW. Cetera Advisors LLC purchased a new position in Arrow Electronics during the 1st quarter valued at $235,000. CWM LLC raised its stake in Arrow Electronics by 59.7% in the second quarter. CWM LLC now owns 1,714 shares of the technology company's stock worth $207,000 after buying an additional 641 shares in the last quarter. QRG Capital Management Inc. raised its stake in Arrow Electronics by 12.1% in the second quarter. QRG Capital Management Inc. now owns 6,976 shares of the technology company's stock worth $842,000 after buying an additional 753 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Arrow Electronics in the second quarter worth about $938,000. Finally, Dynamic Advisor Solutions LLC boosted its position in Arrow Electronics by 184.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,700 shares of the technology company's stock valued at $688,000 after acquiring an additional 3,694 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Arrow Electronics Stock Up 0.9 %

Shares of NYSE ARW traded up $1.13 during midday trading on Friday, hitting $120.49. The stock had a trading volume of 268,508 shares, compared to its average volume of 387,396. The business's 50 day moving average is $125.54 and its 200-day moving average is $126.74. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $137.80. 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 $6.34 billion, a P/E ratio of 13.45 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (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 analysts' expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm's quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.14 EPS. As a group, analysts predict that Arrow Electronics, Inc. will post 10.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARW. Truist Financial lowered their price objective on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, November 1st. Raymond James decreased their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One 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. Based on data from MarketBeat.com, Arrow Electronics has an average rating of "Hold" and a consensus price target of $124.25.

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.