Assenagon Asset Management S.A. Decreases Stake in Arrow Electronics, Inc. (NYSE:ARW)

Assenagon Asset Management S.A. reduced its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,077 shares of the technology company's stock after selling 194,604 shares during the quarter. Assenagon Asset Management S.A. owned about 0.68% of Arrow Electronics worth $48,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARW. Intech Investment Management LLC purchased a new stake in shares of Arrow Electronics in the first quarter valued at approximately $682,000. State Board of Administration of Florida Retirement System grew its holdings in Arrow Electronics by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company's stock valued at $7,404,000 after buying an additional 10,083 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Arrow Electronics by 128.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company's stock worth $4,570,000 after acquiring an additional 19,880 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Arrow Electronics by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company's stock worth $12,456,000 after acquiring an additional 6,157 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Arrow Electronics by 368.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company's stock valued at $3,548,000 after acquiring an additional 21,563 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Arrow Electronics Trading Down 1.1 %

Shares of ARW stock traded down $1.52 on Friday, hitting $132.39. The stock had a trading volume of 320,619 shares, compared to its average volume of 463,764. The company's 50 day moving average price is $131.56 and its 200-day moving average price is $128.05. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.39. The firm has a market capitalization of $7.05 billion, a P/E ratio of 10.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.16 by $0.62. The business had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business's revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 earnings per share. Analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARW has been the topic of a number of analyst reports. Raymond James lifted their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $130.75.

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.