Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,310 shares of the technology company's stock after selling 4,397 shares during the period. Fifth Third Bancorp's holdings in Arrow Electronics were worth $2,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ARW. True Wealth Design LLC acquired a new position in Arrow Electronics in the 3rd quarter valued at about $31,000. Brooklyn Investment Group purchased a new position in shares of Arrow Electronics in the third quarter valued at approximately $40,000. Capital Performance Advisors LLP acquired a new position in shares of Arrow Electronics in the third quarter valued at approximately $73,000. DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics during the 3rd quarter worth approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arrow Electronics during the 3rd quarter worth approximately $88,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ARW shares. Raymond James cut their price objective on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company reduced their price target on Arrow Electronics from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st.

Arrow Electronics Price Performance

Shares of NYSE ARW traded up $0.94 during midday trading on Tuesday, hitting $117.12. The company had a trading volume of 478,062 shares, compared to its average volume of 419,039. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 13.07 and a beta of 1.26. Arrow Electronics, Inc. has a twelve month low of $108.51 and a twelve month high of $137.80. The business has a 50-day simple moving average of $116.89 and a two-hundred day simple moving average of $123.96. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.73 billion. During the same quarter in the previous year, the business posted $4.14 earnings per share. The firm's quarterly revenue was down 14.8% compared to the same quarter last year. Equities research analysts anticipate that Arrow Electronics, Inc. will post 10.26 earnings per share for the current 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.